According to foreign media reports, LeEco’s subsidiary LeEco will acquire Vizio, the second largest TV maker in the United States, for US$2 billion . After the acquisition, Vizio will continue to operate independently and the management team will remain unchanged, except for the founder and CEO Wang Wei. Served as the CEO of the new split-data business company Inscape.
Vizio is the second largest TV manufacturer in the United States, second only to Samsung. Its main products are TVs and stereos, with total sales of more than 70 million TVs and stereos, of which more than 10 million are smart TVs. As early as April, there was news that LeTV would invest in Vizio. However, Vizio is also facing a crisis. Its attempts to expand product lines such as the tablet and mobile phones have not been successful; last year, TVs were found to collect information such as user viewing behavior, which also caused the company to fall into the public relations crisis.
For LeTV, this is yet another step into the United States. After the acquisition is completed, Vizio's current distribution agreement will not change, which will allow LeTV to enter the US market quickly. In December last year, LeTV was already on the lineup in LeStreet in the United States, and LeTV has already set up offices in Los Angeles and Silicon Valley.
As for content, LeTV is said to be launching 20 English-language films, including "The Great Wall" starring Matt Damon. LeTV was previously involved in the "Death Squad 2".