Made in (and From) China
Chinese tech company LeEco will acquire U.S.-based Vizio for $2 billion in a deal expected to close later in 2016. LeEco began as a streaming media company (LeTV Service) but eventually branched out into a myriad of markets from mobile devices to automotive. LeEco currently sells televisions through the Internet and reportedly sold 3 million units in 2015, which would bring the combined company’s TV output around 10 million units. This would effectively make LeEco the sixth largest TV manufacturer behind market leaders Samsung, LG, TCL, Skyworth, and Sony. LeEco, like other Chinese television manufacturers, is looking to expand further beyond their domestic market and this acquisition speaks to this goal.
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