You may or may not have heard of LeEco, but you are bound to hear more about this company sooner or later, especially if it does end up acquiring VIZIO. Rumor has it the Chinese tech company will announce its plans to buy VIZIO – a US company best known for its TV product line – at an event being held later this week.
LeEco is a relatively new company, and chances are you’ve never even heard of it; however, LeEco is not only a known brand in China, but its global expansion has been aggressive lately, to say the least. LeEco launched the LeEco Le 2 and Le Max 2 in India last month, and with the handsets’ premium design and attractive price range, LeEco stated that it aims to grab a spot among the top three smartphone manufacturers in India:
“We are very confident of our disruptive technologies. The specifications are world-class and the pricing is very competitive. We aim to be among the top 3 players in India in 2016.”
LeEco’s ambitions don’t stop there. Earlier we reported that LeEco is planning to increase its presence in the US: the company was said to hire hundreds of US-based employees and was aiming to reach 1,000 US workers by the end of the year.
Well, it looks like the Chinese conglomerate may go even further to infiltrate the highly saturated US market. LeEco is holding a joint event with VIZIO on July 26th, and the word on the street is that it will announce either the acquisition of, or a partnership with VIZIO. Given the fact that VIZIO is a leading TV maker in the US, any form of deal between the two companies could mean huge business potential for LeEco.
VIZIO’s technical expertise and market understanding could help fulfill LeEco’s ambition to bolster its overseas presence in the US. In fact, reports claim that if the deal goes through, LeEco may have access to VIZIO’s plant in Mexico.
The potential LeEco-VIZIO deal is expected to have positive effects on LeEco’s business in other markets as well, namely in India. Although no details are confirmed, one thing is for sure: LeEco is in full gear, preparing for its big splash in the US market this upcoming fall.
What do you think LeEco and VIZIO have in store for us? Would you be interested in buying a LeEco smartphone when it launches in the US?