LeEco reportedly cancels plans to acquire Vizio due to regulatory issues

By Shrey Pacheco | Published on 11 Apr 2017

Last year, LeEco had agreed to acquire US-based consumer electronics company for $2 billion

LeEco reportedly cancels plans to acquire Vizio due to regulatory issues

Top reasons why you must attend #KubeSummit 2021

Get a detailed walk through on scheduling & automating deployment & scaling of #Containerized Apps. Register for #KubeSummit 2021 today. March 19-20

Click here to know more


LeEco has reportedly cancelled its plans to acquire Vizio for $2 billion. According to a report by Reuters, regulatory issues were the reason for the change of plans. A LeEco executive cited a “Chinese policy factor” for scrapping the deal, but didn’t provide any additional information to the publication.

Back in July last year, LeEco had agreed to acquire Vizio for $2 billion. Since then though, the company has come under financial difficulties. Bloomberg had reported that the company’s Co-Founder and Chairman, Jio Yueting had sent a letter to employees in which he admitted that the company was running out of money due to its rapid expansion. Besides apologising to shareholders, Yueting reportedly pledged to reduce his income to CNY 1, slow down LeEco’s pace of expansion, and move the company towards a more moderate pace of growth.

However, things do seem to be getting better for the company. The company recently posted a teaser for its upcoming smartphone believed to be the Le Max 3. The teaser suggests that the smartphone would come with the company’s own AI-based assistant as well as a dual-rear camera setup. Other features expected by the smartphone includes a 5.7-inch QHD display, Snapdragon 821, and 4GB of RAM.

Shrey Pacheco

Writer, gamer, and hater of public transport.

leeco leeco vizio acquisition vizio leeco vizio deal cancelled leeco vizio deal

Digit caters to the largest community of tech buyers, users and enthusiasts in India. The all new Digit in continues the legacy of Thinkdigit.com as one of the largest portals in India committed to technology users and buyers. Digit is also one of the most trusted names when it comes to technology reviews and buying advice and is home to the Digit Test Lab, India's most proficient center for testing and reviewing technology products.

We are about leadership-the 9.9 kind! Building a leading media company out of India.And,grooming new leaders for this promising industry.

DMCA.com Protection Status