This entrepreneur just called Apple 'outdated' and 'obsolete'
Watch out Apple, this Chinese tech company is coming for you (and they're quite confident about it, too).
In his first ever international interview, Jia Yueting of Chinese company LeEco called Apple "outdated" and "obsolete," along with criticizing the company's sense of innovation. Rawr!
Yueting, who was attending the China Entrepreneur Club (think of a summit similar to Davos), spoke about what he perceives as a core difference between his company and Apple:
"We think the difference between us and Apple is very large. Apple is a mobile phone company focused on hardware and software. [LeEco] is focused on the internet first, and only then on software, and finally on hardware."
LeEco's product portfolio spans mobile phones, televisions, mountain bikes and as of last week, an electric car called the LeSEE, a self-driving and high-potential Tesla rival.
On Apple's latest iPhone SE release, Yueting had these choice words to say:
"From an industry insider's perspective, this is a product with a very low level of technology...We think this is something they just shouldn't have done."
Apple's fourth-quarter results last January did mention "signs of economic softness" in the Greater China area, and it's anticipated that a fall in smartphone sales will be announced when first-quarter numbers are released later this week.
Yueting believes that a lack of fresh ideas and technology are what's hindering Apple's success:
"We believe the next generation of mobile internet will be more open, more ecosystem oriented instead of being a closed loop...Ironically, Apple's over-dominance, lack of internet-thinking and the closed off nature of it's systems, all hindered innovation in the internet mobile industry."
Regardless of whether or not Apple's sense of innovation or sales are dwindling, it's certain that Yueting's confidence in his company and doubt in his international rivals are not.
We're interested to see what the rest of the year has in store for both companies.
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