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China's LeEco makes $2bn push into US TV set business

Tin Mok, LeEco’s Asia-Pacific CEO, unveiling new products in Hong Kong on Tuesday. (Photo by Joyce Ho)

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.

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