HONG KONG -- Beijing-based Leshi Internet Information & Technology, or LeEco, is boosting its presence in the U.S., paying $2 billion for the hardware and software businesses of U.S. television maker Vizio.
California-based Vizio, founded in 2002, has grown rapidly as a seller of inexpensive TVs. According to U.S. market researcher IHS, the company had a 17.2% North American market share last year, second only to Samsung Electronics.
