NetEase Tech, 7/31/17
Chinese online video content and smart device firm Leshi Internet Information and Technology (300104.SZ) will focus on its TV business in the future, said newly appointed CEO Liang Jun in an interview with media outlet NetEase Tech. This shift in focus will mean that related businesses such as online video site Le.com and TV and film production company Le Vision Pictures face repositioning. Liang also said that his approach to other peripheral businesses will be to cut what needs to be cut and throw out what needs to be thrown out.
Liang said that the future, new Leshi will be like a dumbbell: on one end will be Le.com, on the other end will be the original content production of Le Vision Pictures, and Leshi Internet Information and Technology will be the bar in the middle connecting the two together.
Liang also revealed that the businesses facing cuts include Leshi Internet's overseas operation and live streaming business.