Vizio Acquired by Chinese Electronics Giant LeEco for $2 Billion - Home Theater Forum and Systems - HomeTheaterShack.com

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post #1 of 5 Old 07-27-16, 04:53 PM Thread Starter
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Vizio Acquired by Chinese Electronics Giant LeEco for $2 Billion



Startlingly big news came out of California yesterday, as the popular U.S. television manufacturer, Vizio, made a game-changing announcement. The company has agreed to be purchased by LeEco for the tidy sum of $2-billion USD. Under the deal, the Vizio brand and its portfolio of products (hardware and software) will transfer ownership hands, and the US-based Vizio executive management team will remain intact and operational. All of Vizio’s products will continue to be sold through existing distribution channels, and customers will continue to receive North American-based customer service. Vizio’s data business, Inscape, is not part of the sale and will begin operating as a privately owned company.

If you’re unfamiliar with the name “LeEco,” you’re probably not alone. LeEco is a Chinese-based global technology company that describes itself as providing an “open, integrated, ecosystem of streaming content, platforms, and smart devices that fit perfectly into a broad spectrum of lifestyles.” They go on to say, “LeEco opens new opportunities for consumers by offering a wide array of next-generation connected products – including smartphones, TVs, bikes and cars – and content spanning sports, film and live entertainment. LeEco was recently named one of Fast Company’s 2016 Most Innovative Companies and Alphr’s Best of Mobile World Congress – Most Innovative Company.”




According to LeEco’s founder, chairman, and chief executive officer (YT Jia), the company’s Vizio acquisition is part of a globalization strategy that includes building a presence in North America. “LeEco believes in breakthrough technologies, a complete ecosystem and disruptive pricing,” said Jia. He continued, “From its inception, VIZIO introduced a disruptive business model that changed the industry and aligns with our vision of breaking boundaries to deliver consumer-focused products, software and services.”

It’s certainly hard to argue against Jia’s characterization of Vizio, as the company burst onto the scene in the early 2000’s with HDTV pricing that hardly seemed possible. I certainly took advantage of Vizio’s products for secondary rooms in my home that needed televisions for occasional use. And the company’s market offerings have improved over the years, with Vizio’s recent high-performing television models receiving praise and stamps of approval from nit-picky reviewers. Hopefully we’ll continue to see innovation and market changing products. Vizio’s founder, William Wang, says he has high hopes for his former company.

“Fourteen years ago, I mortgaged my house to start VIZIO and since then, it has grown into one of the most well-known and respected CE brands in North America. As an entrepreneur, I couldn’t be more proud of what has been accomplished,” said William Wang, Founder, Chairman and Chief Executive Officer, VIZIO. “As we enter a new chapter with LeEco, I’m humbled by the hard work and dedication of VIZIO shareholders and employees. Their unwavering faith in the brand and commitment to excellence is what made this venture possible. I’m excited to see how LeEco’s global reach and resources will elevate VIZIO as we continue to bring great technology, innovation and value to our consumers.”

Barring any unforeseen issues or closing barriers, the LeEco / Vizio sale will be finalized during Q4 of 2016.

Image Credits: Vizio, LeEco
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post #2 of 5 Old 07-27-16, 05:42 PM
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Re: Visio Acquired by Chinese Electronics Giant LeEco for $2 Billion

As long as it improves the quality of the picture in Vizio tv's and helps to innovate to next gen tv as well as keep prices low, I say, we should applaud the move. Time will tell of course.

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post #3 of 5 Old 07-27-16, 05:52 PM Thread Starter
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Re: Vizio Acquired by Chinese Electronics Giant LeEco for $2 Billion

It's obvious that Chinese electronics manufacturers - specifically TV - see opportunity here. So far it has been in the lower cost – lower performance segment... I echo your sentiment... hopefully Vizio will continue to innovate and attack quality.
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post #4 of 5 Old 07-27-16, 06:54 PM
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Re: Vizio Acquired by Chinese Electronics Giant LeEco for $2 Billion

For those of us in the IT space, this is analogous to Lenovo buying the PC division of IBM. No one had ever heard of Lenovo before, yet they rise up and drop a ton of cash to buy a household name. Go figure...

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post #5 of 5 Old 07-28-16, 05:22 PM Thread Starter
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Re: Vizio Acquired by Chinese Electronics Giant LeEco for $2 Billion

Chinese manufacturers obviously have decided to aggressively go after the North American market... hopefully we'll see a Vizio looking to innovate on the quality end of the scale (not just big and cheap).
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