Tag Archives: Admits

LeEco CEO Admits to Cash Crunch, Says Company ‘Over-Extended’

  The CEO of Chinese internet firm LeEco has told employees the company grew too quickly and is short of cash, according to a letter seen by Bloomberg News, weeks after it announced its US expansion. Billionaire Jia Yueting said his 12-year-old video-streaming company, which recently bulldozed into sectors as wide-ranging as self-driving cars, sports, smart phones, film making, and ... Read More »

Oculus Rift May Offer Better High-End Quality Than PS VR, Admits Sony Executive

After years of hype and development, high-end virtual reality (VR) headsets will make their way to consumers starting with the Oculus Rift this month, in 20 countries around the world. Sony’s PlayStation VR (PS VR) is one of its biggest competitors, and Sony Computer Entertainment vice president Masayasu Ito pointed out this week why he thinks its creation will be ... Read More »