After declaring its upcoming entry into the North American market, Chinese tech giant LeEco is rumored to be acquiring America’s largest smart television manufacturer, Vizio.
Chinese financial new website Hexun and Taiwanese tech media Technews.tw reported on Monday, Apple and Google are also willing potential buyers of Vizio – which, nonetheless, will be acquired by LeEco at a price between USD 1.1 to 1.5 billion.
Vizio is the largest smart TV maker in America. Its shipments of LCD TVs was eight million units in the first half of 2016.
If the acquisition is confirmed, LeEco will surpass Sony in terms of global sales as the fifth largest Liquid Crystal Display Television (LCD TV) manufacturer in the world.
LeEco’s smart TV business has been one of its major sources of revenue. According to its 2015 financial report, it sold three million Super TVs in 2015. It said on July 3 that it had sold seven million Super TVs within three years.
LeEco started as an online video platform, producing internet dramas, movies and live streamed sports games. The company’s movie and television content has been combined with its Super TVs, allowing users to access its online content system on their TVs.
AllChinaTech reached out to a spokesperson at LeEco who said that they have no comment on the matter.
(Top photo from dingkeji.com)
