NewDelhi, July 22 (ANI
): Internet and technology company, LeEco, is likely to acquire US TV vendor VIZIO in a bid to fast track its overseas expansion plan.
The two will be jointly hosting an event in Hollywood on July 26, which has led to speculations of the acquisition. It is likely that the details of the deal will be announced at this event.
A known brand in China, LeEco after expanding to the US, India and Russia, now plans further global expansion for which it has been eyeing strategic investments across various parts of the world.
VIZIO, which offers sound bars, tablets, ultrabooks and mobile phones in addition to its TV product line, is quite popular in the US owing to its low prices and good quality.
It is currently one of the leading HDTV companies in the United States.
If this deal goes through, LeEco may even own VIZIO
's manufacturing plant in Mexico and may use it to produce its own TV line.
It is being touted that LeEco
is mulling a launch of its Super TV in the coming month.
However, the deal is yet to be confirmed. (ANI