“We will not exit India but work out a smart strategy to manage operations in India. Li also said he believes the company will grow faster in its TV business rather than mobiles as the India smart TV market is expected to boom with a market size of 1 million. Reports also claim that the LeEco India unit staff was cut down by Arles at 80%. However, he said that the company will take the TV business offline to boost sales. According to the company, LeEco had a turnover of Rs 1400 crores by selling at least 1.25 million phones and 12,000 smart TVs.

Source: Hindustan Times March 18, 2017 12:56 UTC