LeEco is a Chinese company with no presence in the US. To fix that, the company announced that it has purchased American TV manufacturer Vizio for $2 billion.
The Vizio brand will stay alive here in the US, but the software on the televisions will be replaced with LeEco's TV operating system. At a certain point in the future, we will start seeing big changes in the products Vizio is putting out. If you're a fan of Vizio, it'll be time to reevaluate its products.
Vizio's executive staff will stay in their Irvine, California headquarters, while Vizio's data business Inscape will be spun off as its own entity, 51% owned by Vizio's CEO and founder William Wong.
The acquisition is expected to close in the fourth quarter of 2016, giving LeEco a foothold in the US market. The company may even release its own products under the Vizio brand in the US in the future. While Vizio primarily made TVs and sound bars (with some Android integration thrown in), LeEco has plenty of experience with Android so we may even see Android devices from them.
What do you think of this acquisition? Are you saddened by the loss of another US company, or are you excited to see what LeEco has in store for our market? Let us know in the comments!
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