Leshi Internet Information and Technology Co, also known as LeEco, is being criticized by analysts for their strange business model by spreading rumors of acquiring Amazon China.
Amazon quickly denied that there was a deal between them and LeEco on Sept. 19. The announcement was made by Amazon China on WeChat.
An e-commerce expert, Li Chengdong, said that LeEco "wanted to attract public attention and enhance its influence by making up something that could create a sensation."
"The model could prove to be a promising one, as it is harder and harder to make profits by just selling devices," said Zhu Dalin, an industry analyst with Analysys International.
Zhu said that the e-commerce will benefit gadget sales for LeEco but profits will not come in fast.
Another Beijing-based analyst, Liu Dingding, said that LeEco is doing this because of its losses. The company has been posting slow growth recently.
The company recently released its new flagship smartphone, the Le Pro 3. According to Le Eco, the phone has "Android 6.0 Marshmallow with LeEco's EUI 5.8 on the top, the smartphone is powered by Qualcomm Snapdragon 821 SoC processor which clocks at 2.35GHz. The new quad-core processor is 10 percent faster than its predecessor Snapdragon 820."
The phone has a unibody design with a screen size of 5.5-inch 1080p display resolution with 2.5 D curved glass display. It comes in colors silver, gray, rose gold and gold.
Its main camera of 16MP has a LED flash and phase detection auto-focus. The front camera has 8 MP.
The phone's battery can be charged in two hours as it is supported by 24W QuickCharge 3.0.
The Le Pro 3 with 32GB storage is priced at $270.