Who the heck is LeEco you ask? Well don’t be surprised if you’re not the only person who hasn’t heard of them if you live outside of Asia. One thing we can establish about them is that they have a lot of money in the bank and they’re not showing any signs of stopping now.
LeEco is owned by 43 year old Chinese Billionaire Jia Yueting who is the company’s founder and CEO. LeEco is known as the “Netflix of China” because of its extremely popular video streaming business in Asia. Why is a video streaming service buying a TV company? Well LeEco also already had its own line of Smart TVs, cellphones and electronics. LeEco shows no signs of stopping any time soon when it comes to all things electronic as it is the parent company of Faraday Future, the new fully electric car start up company based in Gardena, CA who is building a $1 Billion battery and manufacturing plant in Las Vegas to compete with electric car mogul Tesla. The company wants all of your electronic devices to be seamless when it comes to communicating with each other making your life that much easier.
The company CEO had this to say, “LeEco believes in breakthrough technologies, a complete ecosystem and disruptive pricing. Acquiring VIZIO is an important step in our globalization strategy and building our North American presence.” LeEco is purchasing the American TV maker Vizio for the $2 Billion from Vizio CEO and majority share holder William Wang who mortgaged his house to start the TV company in 2002. Welcome to the Billionaires club William.
What does this mean for us gamers? It means we can afford to have a 4k Ultra High Definition TV in every room, one for each of our gaming consoles making the experience that much better every time.
Reference Material: http://www.forbes.com