Chinese Billionaire Jia Yueting Calls Apple Obsolete, Says LeEco Plans To Surpass Tesla

Jia Yeuting may be a relative unknown in the rarefied world of Silicon Valley but the billionaire Chinese businessman in charge of the conglomerate LeEco -- which is also funding Faraday Future -- is not afraid to ruffle some pretty big feathers, taking aim at both Apple and Tesla in his first interviews with Western media. Jia called Apple "outdated," claiming the reason for Apple's slowing growth in the key Chinese market was down to a lack of innovation from the iPhone maker, pointing to the launch of the iPhone SE as an example. "From an industry insider's perspective, this is a product with a very low level of technology," Jia told CNBC. "We think this is something they just shouldn't have done." Not content with take aim at Apple, Jia, who last week launched LeEco's first self-driving car, also took aim at Tesla, saying his company would eclipse Elon Musk's electric vehicle efforts.