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Chinese electronics maker LeEco has no plans to exit operations in India, it said on March 3, refuting a media report that the company was preparing to leave the market although it has cut almost 80 per cent of its workforce.
According to Reuters, the company said in a statement that India is one of the most strategic markets for LeEco and also added that it had no plans to leave and was gearing up to launch its next generation television in the country.
The representative added that the company at the moment has over 80 employees in India. At the end of last year, we had around 350 employees.
A former employee at LeEco’s Mumbai office, who quit after six months at the company, told Reuters the CEO’s letter in November had left him disillusioned and prompted him to resign.
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