LeTV's Former Employees Reveal: How LeTV Beats US Battlefield Step by Step

[Global World Technology Report] LeTV has recently experienced a low ebb period. Recently, an article by overseas media GIZMODO has revealed that LeTV's entry into the United States from a high profile to the present is in a difficult situation by interviewing different LeTV employees.

In 2016, LeEco, a US subsidiary of LeSco, a Chinese technology giant, made a big push into the U.S. market. As a rising star of technology, LeSco quickly entered the unfamiliar US market with some technology gadgets and services. However, after the US conference in October 2016, the company’s confusing management and delinquent wages and employee resignations, the company’s disappointed former employees stated to the media how they were making Lexus’ mistakes step by step.

In October 2016, LeSco quickly entered the US market with its numerous small technology products and services. As a thriving technology company, LeTV actually has many necessary factors for success in the U.S. market. LeEco is part of LeTV's complex business empire and is actually controlled by founder Jia Yueting. Jia Yueting's LeTV empire includes LeTV. This is known as “China’s Netflix”. Thanks to Letv's streaming service, LeTV has accumulated hundreds of millions of users.

LeTV's other businesses are collectively referred to as "LeSports Ecology", which includes ultra-thin TVs and smart phones with low price but high specifications, and even bicycles and electric cars. Jia Yueting is also the largest investor in Faraday Electric vehicles in the United States.

Jia Yueting once said in an interview that he has been paying attention to the US market for many years. In the U.S. market, established technology giants Apple and Samsung have established great popularity in the United States, but the U.S. market also proves very difficult for Chinese technology companies to overcome. However, smart phones such as Huawei and Xiaomi did not establish much brand awareness even for TV companies such as TCL and Hisense. Jia Yueting said that LeTV is not the first Chinese technology brand trying to enter the United States, but may be the first to succeed. Technology brand.

Acquiring companies in the U.S. market

LeSitu's former employee told GIZMODO that LeSitu's strategy when it entered the US market was to use its success in the Chinese market to purchase US companies to increase their share.

In June 2016, LeEco spent $250 million from Yahoo to acquire 49 acres of land in Maeda. Jia Yueting claimed that LeEco, with more than 500 employees in the United States, will eventually employ 12,000 people at its new "Eco City" headquarters in Silicon Valley. In July this year, it announced plans to spend $2 billion to acquire budget television maker vizio. This move was seen by executives as a shortcut to climb into the US hardware and content market. The vizio brand currently accounts for 20 US TV sales. %.

Actively introduce talents in the U.S. market

LeTV's former employees also revealed that LeTV is still actively introducing talents by way of high salaries. LeTV dug away from Samsung, including Todd (hired as Chief Marketing Officer), Sean (hired as Chief Administrative Officer), and Danny Bowman (hired as Chief Revenue Officer), who had hijacked Jack from Google. For the general counsel.

Let's think

LeTV declared to investors and new employees in the United States that LeTV is like the integration of Apple and Netflix. LeTV's strategy is not only to develop high-spec, reasonably priced equipment, but also to integrate these devices with the content ecosystem.

The product is not ready for release will cause a series of problems

In recent months, LeTV has had a series of major events, which proves that LeTV is not ready to stand firm in the U.S. market. LeTV has already sold the 250 million U.S. dollars it purchased for the eco-city in March. Moreover, the company admitted that it has over-expanded and experienced a series of disturbances such as wage arrears and layoffs. And LeTV’s plan to acquire Vizio was also ended due to “regulatory issues.” In addition, a large number of layoffs also made it difficult for LeTV’s legal, financial, and sales teams to work.

Last week, LeTV’s sales target for 2016 was not revealed. Many people believe that the LeTV model in the United States will not be successful.

Last year, LeTV’s press conference in the United States attracted the attention of many media and industry. Many people were attracted by the subject of “breaking the boundaries and lighting up the ecological world”, but it was later proved that LeTV was not ready. First of all, LeTV’s U.S. conference was postponed twice, allegedly because the mobile phone did not really meet the requirements for mass production. At that time, the LeTV super car that was expected to be comparable to Tesla had not come to the scene for various reasons. Many people were disappointed.

LeTV experienced US layoffs and executive departures

Recently, LeTV’s executives left the company and layoffs and wage arrears disputes have also been heated up. From the end of 2016, former marketing executive Todd Pendleton and former Samsung executive Shawn Williams have left their jobs. They spent only one year at LeTV. about. LeTV currently employs a former Qualcomm executive responsible for R&D.

Informed sources said that LeTV has laid off staff in the past few months, and most employees have not received the year-end bonus.

The former employee stated that there are still serious cultural conflicts between LeTV and U.S. companies. Most of the U.S. branch’s decisions were made by Jia Yueting, but LeSport’s lack of understanding of the U.S. market made U.S. employees frustrated and many U.S. employees believed that they were from China. Many executives only supervise and do not have in-depth understanding of the US home market. Many of the decisions made are not realistic. They have made too many mistakes and made many strategic mistakes, leading many American employees to be dissatisfied.

GIZMODO believes that the staff of LeTV USA is currently suffering from low morale. Even if LeTV solves the financial problem, if the cultural identity does not give the U.S. employees enough room, even if LeShot’s US sales increase significantly, there will still be more problems. After all, everyone wants to be the smartest one and does not want to be restrained everywhere. Now the former employee told the media that he knew that he would leave sooner or later, but he only wanted to be properly resettled and compensated.

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