LeEco to sell phones in the US
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.