China's LeEco not planning to quit Indian market, but cut jobs

Chinese electronics maker LeEco has no plans to exit operations in India, it said on Friday, refuting a media report that the company was preparing to leave the market although it has cut almost 80 per cent of its workforce.

"India is one of the most strategic markets for LeEco," the company said in a statement, adding that it had no plans to leave and was gearing up to launch its next generation television in the country. The Economic Times reported on Friday that the company was firing 85 percent of its Indian workforce.....

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