Chinese company LeEco, is planning to acquire US TV vendor VIZIO in a bid to fast track its expand its overseas plan. The rumors of the two jointly hosting an event in Hollywood dated July 26, has led to speculations of the acquisition. Not much is known at the moment and it is likely that the details of the deal will be announced at this event. Also Read - Struggling LeEco plans smartphone with 18:9 aspect ratioAlso Read - LeEco plans smartphone with 18:9 aspect ratio: Report
LeEco, which is by now a known brand in China and has expanded its services to the US, India and Russia, now plans further global expansion for which it has been eyeing strategic investments across various parts of the world. VIZIO is a company which offers sound bars, tablets, ultrabooks and mobile phones in addition to its TV product line, is quite popular in the US owing to its low prices and good quality.
It is currently one of the leading HDTV companies in the United States. If this deal goes through, LeEco may even own VIZIO’s manufacturing plant in Mexico and may use it to produce its own TV line. It is being touted that LeEco is mulling a launch of its Super TV in the coming month. However, the deal is yet to be confirmed.