LeEco is cutting off jobs in INDIA not exiting.

Chinese smartphone giant LeEco entered India with LeTv Le 1S which was very successful. Recently there are some rumors about LeEco's departure from India.

When LeEco officials were contacted they confirmed that they are not leaving or exiting from India but confirmed to lay off 85 percent of its staff and according to them this is an "Optimisation Exerciseoptimisation Exercise"

LeEco will be launching their smart TVs and next generation smartphones in India soon.