LeEco's final death may be at hand as the company puts up headquarter building for sale
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LeEco's struggles are well-documented. The company's attempt at making an incursion into the American technology market ended in miserable fashion when resources got overstretched, leading to the company laying off a significant portion of its US staff, and effectively closing up shop in North America. The company's woes are, sadly, on the climb, as reports claim that its headquarter building in Beijing, China, has been put up for sale—a move that may just signify the unequivocal death of the company.
The building being put up for sale isn't as bad as it gets, actually. It's a lot sadder that an actual sale doesn't even look feasible at the moment. The company, riddled with debt, apparently mortgaged out the building for a US$200M loan, a massive deterrent to prospective takers.
It's a shame that a company like LeEco is set to die a cold death, shivering in the wastelands. The company, in spite of its bad management, looked set to influence the global technology market, and its smartphones offered great value for money when they were released a year ago. The good ones die young, it would seem.
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