Chinese tech company LeEco had its major US launch last month, with most of its smartphones and TVS available via its LeMall website. Starting Dec. 1, you’ll be able to buy them from US-based retailers, including Amazon, Best Buy and Target.
If you buy the Le S3 or Le Pro3 smartphones or 43-inch X43 Pro 4K TV, you’ll get three months of AT&T’s DirecTV Now streaming service. The Super4 X55 or Super4 X65 4K sets will get you a six-month trial, or 12-months when you purchase a uMax85 TV 85-inch for $5,000.
AT&T announced DirecTV Now as its new streaming TV service at an event held in New York City on Monday. DirecTV costs $35 per month, features a lineup of more than 100 channels, and the ability to add on premium networks like HBO and Starz.
LeEco is a successful e-commerce company in China and its founder, Jia Yueting, has been named the country’s 30th richest individual. In addition, LeEco also spent a ton of money launching its own electric car and backing two companies such as ( Faraday Future and Lucid Motors), but Yueting said the company is running out of cash.
In a letter obtained by Bloomberg, Yueting said: “We blindly sped ahead, and our cash demand ballooned. We got over-extended in our global strategy. At the same time, our capital and resources were in fact limited." Reuters also received a copy of the same letter, which read: "We are starting to see signs of big company disease, such as low individual performance and organizational redundancies."
Back in July, the company also confirmed the $2 billion acquisition of US TV maker Vizio and pledged to spend another $1.8 billion building a EV factory, which is capable of outputting 400,000 electric cars per year. In addition to dominate the US market with cheap phones and TVs, you can see how LeEco overextended itself
LeEco plans to refocus on its existing business - which is phones, TVs and car production - so it can gain the cash it needs to explore new markets.