China’s LeEco backs out of Silicon Valley HQ less than a year after being hailed as “taking on Apple”

China’s LeEco backs out of Silicon Valley HQ less than a year after being hailed as “taking on Apple”

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LeEco, the Chinese firm reported to be "taking on" Apple (as well as Tesla and Netflix) less than a year ago in an ambitious American expansion with new headquarters in San Jose, is now laying off employees and selling its property after running out of cash.

Original source from - AppleInsider - Frontpage News - Click Here to View

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