This ambitious Chinese tech firm just snapped up Vizio for $2 billion

Discussion in 'Chinese Chat' started by crasianlee, Jul 28, 2016.

  1. crasianlee

    crasianlee Well-Known Member

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    This ambitious Chinese tech firm just snapped up Vizio for $2 billion

    by Sophia Yan @sophia_yanJuly 27, 2016: 5:13 AM ET
    Related: Amazon to test drone delivery in the UK

    The company is taking China by storm with its array of products. In April, it unveiled a self-driving, all-electric concept car. It also has big global ambitions, launching its smartphones in India and opening its U.S. headquarters in Silicon Valley earlier this year.

    A division of the firm, LeVision Pictures, is making original shows and films in China and distributing foreign films, including "The Expendables 2." It's also currently producing "The Great Wall," directed by Zhang Yimou and starring Matt Damon, with Legendary East and Universal Pictures.

    It's a big bet on the growing power of the Chinese consumer -- producing both gadgets and content to serve them.

    In April, LeEco's Jia even took a shot at Apple, calling the iconic tech firm "outdated" in a television interview.



    CNNMoney (Hong Kong)First published July 27, 2016: 2:08 AM ET