Jia Yueting, the controversial founder of LeEco, recently reignited his rivalry with Xiaomi, claiming that the two companies were never comparable.

Reflecting on LeEco’s heyday, Jia boldly stated, “Xiaomi couldn’t even compete with us back then.” At its peak, LeEco championed an “ecosystem synergy” strategy, ambitiously expanding into smart TVs, smartphones, and even electric vehicles. Meanwhile, Xiaomi was struggling with underwhelming smartphone sales and strategic adjustments.

However, a decade later, the tables have turned. LeEco collapsed under financial strain and mismanagement, while Jia remains in the U.S., his infamous “returning next week” promise unfulfilled. His recent remarks—praising LeEco’s past technological achievements—have drawn mixed reactions. Some former LeEco users defended the brand’s innovations, but many dismissed Jia’s comments as delusional, mocking him with references to his broken promises.

This isn’t the first time Jia has targeted Xiaomi. In April 2024, he acknowledged Xiaomi’s successful EV launch but criticized its “copycat culture” and lack of groundbreaking innovation. His remarks, however, were met with skepticism, given his tarnished reputation.

Jia’s credibility took a major hit due to LeEco’s decade-long financial fraud, for which he was fined heavily and banned from China’s securities market. His failure to repay debts and prolonged absence have cemented public distrust.

In contrast, Xiaomi has flourished, now ranking among the world’s top 500 companies. The stark divergence in their trajectories makes Jia’s boasts seem out of touch.

The rise and fall of LeEco and Xiaomi illustrate the volatile nature of business. While LeEco’s rapid expansion led to its downfall, Xiaomi’s focused growth ensured its survival. Jia’s latest outburst serves as a reminder that past glory means little without sustainable execution—a lesson the market has ruthlessly enforced.