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【Global Technology Reporter Wang Huan】 "Japanese Economic News" reported on July 7 that on the 6th, LeTV Information Technology Co., Ltd. announced that founder Jia Yueting will resign from the chairmanship. It is reported that Jia Yueting resigned himself. Jia Yueting said on the same day: “I am sorry to let you (employees and investors) worry about it.”

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Jia Yueting will resign all positions in LeTV. The shares he holds are currently frozen by the court due to default on debts. If the cash flow is not improved, Jia Yueting will have almost no influence on LeTV.

Jia Yueting said in a statement on the Internet that day: "Let's take the huge challenge to this day and I will take full responsibility for Lexus' employees, users, customers and investors."

Jia Yueting also stated that “LTV will still dedicate the best products to everyone, and LeTV will also follow the established strategy. The bigger run will also not be able to change our dream of transforming the automobile industry” and announces that it will continue to do its best in the future. In order to develop pure electric vehicles. Jia Yueting said: "I urge you to give LeTV some time, give LeTV some time, and we will put all the financial institutions, suppliers, and any outstanding payments back."

LeTV was established in 2004. The initial business was mainly video sites such as TV dramas and animation. After that, it sold smart TVs that were 30-40% lower than other companies, and sold more than 10 million in China.

Jia Yueting took advantage of the success of the video site and began to enter new businesses such as TVs, smart phones and pure electric vehicles. He was once called “China’s Jobs”.

However, the rapidly advancing diversification strategy has not been successful, and LeTV's performance has also fallen into a downturn. The 2016 fiscal year (as of December 2016) results in the first operating loss since the company's listing. In July, the news that the shares of LeTV.com held by Jia Yueting and others were frozen by the court.

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