LeEco to sell phones in the US

China Daily (Canada) - - NEWS CAPSULE -

Chi­nese in­ter­net firm LeEco Hold­ings Co Ltd said it will sell smart­phones and TV sets in the United States af­ter the com­pany pur­chased a de­vel­op­ment site in Santa Clara, Cal­i­for­nia.

Jia Yuet­ing, founder of LeEco, said in an in­ter­nal let­ter: “We have out com­peted sev­eral global gi­ants to get the land and it will be used as our global head­quar­ters.”

The com­pany has more than 1,000 em­ploy­ees in the US and will for­mally launch its prod­ucts in the world’s most-com­pet­i­tive mar­ket within the next three months.

The Sil­i­con Val­ley Busi­ness Jour­nal re­ported in May that LeEco had bought a site for $250 mil­lion from Ya­hoo Inc.

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