ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Online streaming service Leshi struggles to turn itself around

Once-hot Chinese company logs nearly $300m net loss as diversification backfires

LeEco unveils an all-electric concept car in 2016. The group's diversification strategy ran into headwinds.   © Reuters

DALIAN, China -- Video streaming service Leshi Internet Information & Technology is struggling to regain its financial footing as an ill-conceived push to diversify has left the company with a negative net worth.

The owner of a Leshi smart TV store on the outskirts of the northeastern Chinese city of Dalian stares at his unsold inventory and muses that he can no longer keep the store open. There are no customers in his 30-sq.-meter shop.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more