Companies work and strive for growth all the time but the guys at LeEco might have done that to a much greater extent, to the point that the company might be growing too fast. When analysing all products that LeEco is putting out, a pattern can be figured out: high-spec and high quality but extremely low prices. The 4K TVs put out by LeEco, for instance, cost about $5000 and they are comparable to models that might be costing twice as much just like the Le Pro 3 smartphone which costs a cheap $400 when considering the specs of the phone.
LeEco’s strategy is to sell products at extremely low prices and focus on growth and getting more and more popular, but that might not have gone as planned. LeEco’s car project has pumped a great deal of resources from the company and has still very little to show. Selling at low prices is a great strategy to achieve growth but at some point, the company needs to start making money. Danny Bowman, LeEco North America’s Chief Revenue Officer has stressed that everything will continue as announced with Vizio and added that their utmost priority is the United States, and that they will be looking for capital partnerships in the United States, China and India. Had their plan been successful, it might have been one of the biggest breakthroughs of LeEco and bringing it to the limelight as well as targeting a global market.
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Via: | Gizmodo |
Source: | LeEco News |
Image Credits: | Versed Tech |