LeEco's Le Pro3 phone on display at an event in California, the United States last year. The company has been battling huge financial pressure since CEO Jia Yueting admitted last year that the company had expanded too fast and was facing 'big company disease'. — Reuters
TAIPEI/BEIJING: Chinese tech group LeEco is under growing pressure from its creditors and business partners, with a court in Shanghai ordering some of its assets frozen over late payments to a bank.
The latest financial woes of the conglomerate, which has interests ranging from smart cars to online content, have surfaced days after founder and CEO Jia Yueting said its cash problems were "far worse than expected" and that billions of dollars in funds raised in recent months were not enough to help it ride out the crunch.
Limited time offer:
Just RM5 per month.
