Steve Kovach July 14, 2016 at 01:28PM
Chinese tech company LeEco, commonly referred to as the "Netflix of China," will reportedly announce a strategic investment in Vizio on July 26.
LeEco is best known for its Netflix-like streaming video service (Netflix isn't available in China), but it also makes tons of hardware ranging from smartphones to TVs to virtual reality headsets.
LeEco sent out invitations to some press Thursday announcing a mysterious event in LA, and we understand that the event will be LeEco's first major public step into the US market. An earlier report in DigiTimes Thursday speculated that LeEco would make an investment in Vizio.
It's unclear how much LeEco is investing in Vizio, but details on the partnership should be announced at the LA event.
Here's the invitation to the event:
LeEco is also funding Faraday Future, the secretive electric car company that unveiled its first prototype at CES in January:
LeEco also has its own prototype electric car called the leSEE:
Vizio, which is based in the US, is one of the most popular TV makers in the country. A strategic investment in the company is a good way for LeEco to quickly gain a foothold in the US consumer electronics market beyond its transportation ambitions.
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The 'Netflix of China' is coming to the US in a big way from Business Insider: Steve Kovach
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