Although LeTV's business is very diverse, it is only LeTV, LeTV, and LeTV that are truly recognized by users.
Nowadays, due to problems in the capital chain, LeTV's content advantage is no longer available. LeTV's mobile phone also enters an “indefinite dormancyâ€, leaving only LeTV Ultra TV as a strong support. However, according to the Beijing Commercial Daily, the days of LeTV are equally difficult.
Beijing Commercial Daily, Foxconn Affiliate Shenzhen Guanding has already withdrawn from LeTV’s new shareholder series. LeTV Zhixin is a holding subsidiary of LeTV, which is a holding subsidiary of LeTV. It is mainly responsible for LeTV's smart TV business.
According to the data, LeTV Super TVs sold about 300,000 units in 2013. By 2015, this figure has grown to 3 million units, and in 2016, it has reached the mainstream market with nearly 6 million units.
Based on the rapid expansion of LeTV, according to the resolution of the Board of Directors disclosed by LeTV.com on April 2, 2013, Shenzhen Guanding caused new investment to LeTV, and after the completion of the capital increase, Shenzhen Guanding took shares to 20% of the shares.
It is reported that LeTV has also signed an exclusive agreement with Foxconn. According to the agreement, Chairman Guo Jianming of Foxconn could no longer manufacture smart TVs for other Internet companies in Mainland China.
However, although LeTV’s rapid expansion has captured a large number of users, it has also caused LeTV a large financial gap. Levision's 2016 financial report showed that LeTV's operating revenue in 2016 was 21.9 billion yuan, up 68.64% year-on-year; net profit attributable to shareholders of listed companies was down 3.19% year-on-year, representing the first time in eight years.
According to LeTV, the early stage super TVs mainly used high-level configuration, high performance, and quick acquisition of users to subvert the price, which caused the company's operating profit to decrease year-on-year.
As LeTV continued to be exposed to the financial crisis, Shenzhen Guanding was no longer in Lexus' new shareholder list since 2016.
According to data from Ove Cloud Network, from January to April 2017, the number of LeTVs shipped by Foxconn was only 6,600, 3,200, 7,200, and 4,500. Dong Min, vice president of Ove Cloud Network, revealed that Foxconn currently has LeTV shipping, which may be the previous inventory.
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