LeEco Founder Steps Away from CEO Role
May 22, 2017, 7:25 AM by Eric M. Zeman
Jia Yueting, who founded China's LeEco, is cutting back on his responsibilities in order to help the company better focus on products. Specifically, Jia has stepped down as the CEO of Leshi, LeEco's main business unit. He remains the chairman and CEO of LeEco. Leshi is the part of the company that provides internet and video services in China. It is the core of the firm. LeEco later spread to TVs, smartphones, electric cars, and other connected products. These businesses sapped LeEco's finances and caused a cash crunch that eventually saw LeEco scale back its expansion plans. Former Lenovo executive Liang Jun will take Jia's place at the helm of Leshi. At the same time, Leshi's CFO, Yang Linjie, will be replaced by Zhang Wei. Jia gave the change a positive spin, suggesting that he'll be able to provide the proper amount of guidance to the business units he now governs. LeEco sold several phones directly to U.S. consumers online, including Le Pro3.
The LePro3 from LeEco is a flagship-class device that costs hundreds of dollars less than today's top phones, and yet it delivers almost-as-good performance. This unlocked Android Marshmallow smartphone works on AT&T and T-Mobile's LTE 4G networks and carries a bevy of video content apps.
Feb 23, 2017
LeEco today gave its Le Pro3 and Le S3 smartphones an app drawer. The company is pushing the latest build of its Ecosystem User Interface to the Le Pro3 and Le S3, and the update includes a handful of new features.
Jan 11, 2017
LeEco has struck a distribution deal with Target and is now selling its Pro3 (pictured) and S3 handsets via Target's web site. The two phones are available online for $400 and $250, respectively, and are sold unlocked.
Oct 19, 2016
LeEco today announced the LePro3 smartphone, an Android-based flagship that includes the Snapdragon 821 processor and a 4,070mAh battery. LeEco says the large power cell provides 33 hours of talk time or up to 49 hours o media playback.
Apr 10, 2017
LeEco today said it has canceled plans to acquire TV-maker Vizio. The company first announced the $2 billion acquisition last summer.