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Businesses China Television

China's LeEco Calls Off Its $2 Billion Purchase of TV Maker Vizio (axios.com) 25

Last year, China's conglomerate LeEco announced it would be acquiring TV maker Vizio for a sum of $2 billion. The move would have given LeEco, which is increasingly expanding its business beyond Chinese market, an instant foothold in the United States. But today, both companies announced they are cancelling the plan due to "regulatory headwinds." In a statement, the companies said: We continue to believe that there is great synergy between the two companies, and are pleased to announce that LeEco and Vizio have reached an agreement that is a win for both companies ... LeEco and Vizio will continue to explore opportunities to incorporate the Le app and content within the Vizio connected CE platform, and engage in a collaborative partnership to leverage LeEco's ecosystem user interface platform, along with the brand's exclusive content and distribution channels, to bring Vizio products to the China market. The announcement comes amid troubled times for both the companies. On one hand, LeEco is struggling financially. Bloomberg reported earlier this month that the company had delayed payroll for its US employees. Vizio was thrown under the bus in February after FTC fined the company $2.2 million to settle a case involving the TVs' data collection techniques.
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China's LeEco Calls Off Its $2 Billion Purchase of TV Maker Vizio

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  • LeEco are they the company that planted all those phones in the US that had spyware that reported back to China? I think the phones were sold as "Blu" but was LeEco the maker of those phones? For some reason that company sets off alarm bells in my head, I know they did something bad., trying to remember what it was.

    I wouldn't buy a Vizio again if I knew it was owned by LeEco.

    • by MedHead ( 795006 )
      If only one could search the internet for answers to questions like yours (LeEco does not appear to be the company to which you are referring)
      • by Anonymous Coward

        Internet searches is one of the ways that they spy on us. Much safer to get you to perform the search for me and then have you post your findings. Thanks!

  • Since when is getting a slap on the wrist for your egregious surveillance practices "getting thrown under the bus"?
  • by MobyDisk ( 75490 ) on Monday April 10, 2017 @03:09PM (#54209553) Homepage

    I tell people my TV was so cheap, it's a fake Vizio.

    The funny story is that my Vizio TV came with the letters VIZIO on the front corner. But after a few days, the first "I" fell off so it just said V ZIO. A month later, the other "I" fell-off so now it says V Z O. I love the TV snobs who feel snubbed to be in a house that has a low-end TV, but double-so since I would buy a fake version of it. I'm not sure if they believe me or not. :-) In reality, Vizio gets good reviews in the mid-range. Check-out rtings [rtings.com] for accurate no-nonsense reviews. The real low-end TVs are the "Westinghouse" and "RCA" which are just companies that rebrand existing products, or names like "Proscan" that appear for a year then vanish.

  • I used to do work as an independent contractor for this company 'Syntechs' based in florida. They had the repair contract for Vizio nationwide. TL;DR that company folded into bankruptcy and failed to pay us techs collectively $1.6 million dollars for jobs we did on behalf of Vizio. This isn't exactly Vizio's fault since I'm pretty sure Vizio paid Syntechs for our services, but it still left a bad taste in my mouth. They took me for about $32,000 worth of jobs my company did for them that they never paid.

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