Bottom line: LeEco is likely to spin off its new energy car unit by the end of the year following the departure of founder Jia Yueting from the listed company, while it could also close its smartphone division.
In what looks like a major turning point for the foundering LeEco (Shenzhen: 300104), the company's charismatic but embattled founder has relinquished his role as chairman at the publicly listed firm. This particular news came out j...