The smartphone maker with the fastest growth the market has ever seen, LeEco, announced Tuesday that the company has managed to obtain economic funds for a total value of about 600 million dollars. A news that comes with not a little happiness from the Chinese company that lately is passing a fiscal period in the balance.
An expansion too fast
The manufacturer of some of the best Android smartphones on the market was born and grown in no time. Founded in China in 2004 as a television distributor, LeEco, then LeTV, soon began to emerge among the many competitors, coming to have a really wide catalog of contents and services. The success and the leadership achieved led her to direct her interests also towards other sectors including telephony e the cars.
The real first expansion came in the 2014, after the incredible unprecedented success it had with its smartphones, devices from the technical card and cutting-edge performance but sold at a very aggressive price.
This success has prompted LeEco to take an interest in many areas and look for new territories, beyond China, in which to expand its influence. Thus, the company decided to also land in the United States, where did it come from poco more than a month started operating and selling their devices.
Betrayed by ambition
Such a great ambition for growth, however, has meant that they did not manage well internal resources and so soon the Chinese company found itself run out of funding, as also admitted by the CEO and founder Jie Yuting in a letter to his staff.
The news, therefore, that I am coming 600 million dollars of new funds could only make the company breathe a little. The announcement was given along with the promise that these funds will fund research on the electric car autonomous driving, field in which LeEco is working and investing a lot of resources (just think that until today you have invested a capital equal to 1,5 billion dollars).
Analysts are convinced that LeEco will not be able to develop the project and become a Tesla competitor, but the company, on the other hand, shows that it is really willing to carry on the work, against all odds.
Surely those who thought that soon we would have seen LeEco also in Europe will have to change his mind, now we can only wait a lot of time before the Chinese producer tries to continue his growth: now he must commit himself to stabilize and strengthen his position.
We remind you that following us is very simple: through the official page 
, through our news channel Telegram 
, our group Telegram or by subscribing to our magazine of Play Newsstand
. Here you will find the various news we reported on the blog. It is also possible to comment, share and create ideas for discussion on the subject.
