LETV is an emerging brand in Mainland China in recent years. The company was founded in 2004, and in the early stages they mainly provided streaming media content. Then, in 2010 LETV crossed over into hardware products, and in addition to selling their own brand name television products, they also sold smart phones.

Currently LETV owes money to dozens to suppliers, including an outstanding debt of US$13 million owed to the Taiwanese company Compal Electronics. Compal today held a press conference and explained that LETV's total accounts receivable amounts to US$26 million, US$13 million of which is in United States Dollars. LETV began to pay back the debt in mid-November.

In addition to Compal, Mainland Chinese media outlets also pointed out that Qualcomm and MediaTek have already suspended provisions to LETV.

(TR/ Phil Sweeney)