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.

Posted on March 20, 2017 in Apple Insider

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