More than 20 suppliers and business partners of struggling online video giant LeEco’s smartphone unit camped outside the company’s headquarters on Friday, demanding payment on outstanding bills two weeks after reports the company was planning to slash the unit. The suppliers gathered at LeEco’s Beijing headquarters chanting “LeEco, pay your bills,” a Caixin reporter observed at the scene. As of 5 p.m., no one had emerged from the LeEco office to address the group. One event promoter among the group said he hadn’t been paid since late last year, and is owed 3 million yuan ($441,000) by the company. LeEco’s cash crunch first burst into the headlines late last year, created by a rapid expansion that saw the company move from its original online video service into a wide range of new areas including smartphones, new energy cars and TVs.
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