On Tuesday, Chinese company LeEco said it has secured a $600 million endowment from main Chinese institutional investors and has chosen Anthony Gao its president for Asia-Pacific region.
LeEco says in a statement that, "LeEco has protected $600 million (roughly Rs. 4,067 crores) of funding from major Chinese institutional investors today. The first half of the support will be relocated to LeEco within this November and will support LeEco Global and LeEco's electric vehicle business.”
The statement also added that LeEco is enduring a sequence of tactical and organizational improved to hub on sustainable development and achievement of high-value users.
LeEco Chairman YT Jia and Co-founder, has written to workers admitting that his knowledge territory is running out of money and assured to cut his income to CNY 1 (15 cents). The CEO also said that the firm is eager on increasing its ecosystems about the earth with attendance in Hong Kong, India, Russia and the US, where India is on the priority list.
Previously, LeEco admitted that the company is going through from cash crunch so the company needs to raise its funds. In addition, the Le Pro 3 was launched in September this year; the phone is powered by Qualcomm Snapdragon 821 processor. It features a 5.50-inch touchscreen, has 32GB of internal storage and 4GB of RAM. The smartphone runs Android 6.0 and is powered by a 4070mAh non removable battery. It is a quality smartphone from the Chinese smartphone maker.