LeEco Is Said to Miss U.S. Sales Forecasts, Plan More Job Cuts
- Chinese tech firm falls far short of $100 million revenue goal
- U.S. ambitions also hindered by collapse of deal to buy Vizio
China's LeEco Abandons Plan to Buy Vizio
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Chinese technology conglomerate LeEco Inc. is sharply scaling back its U.S. ambitions.
The company -- which oversees a range of businesses in China, from streaming video to smartphones to electric cars -- missed its projections for 2016 sales in the U.S. by a wide margin and is planning to cut more than a third of its U.S. workforce, a person familiar with the matter said.