By many accounts, LeEco was set to be the next major player in the US tech market. But its bank accounts indicate that this won't be the case. Everything is going south for the Chinese startup and in the latest blow, Vizio is suing the company for $US60 ($78) million. Vizio claims that LeEco executives misrepresented its finances in a failed acquisition deal.
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The US Federal Trade Commission announced yesterday that it has reached a settlement with Vizio, which it alleged misled customers about what data its smart TVs were collecting. Vizio agreed to pay $US2.2 million ($2.8 million) in penalties, including $US1.5 million ($1.9 million) to the FTC and $US1 million ($1.3 million) to the New Jersey Division of Consumer Affairs, with $US300,000 ($391,827) suspended.
Unless you're spending a lot of time in mainland China you've probably never heard of LeEco. But you should know LeEco. In 2015 the company sold more phones than Apple. Its web series, Go Princess Go, was one of the most watched web series in China, before censors had it edited due to too many bisexual time travelling shenanigans. And two days ago it bought American television giant Vizio.
Vizio's first tablet entry wasn't great. But the 10-inch M-Series the company just debuted at CES? Looks like second time's the charm.
Over in the US, Vizio became a big player over the last few years with pretty-good-for-the-price big-screen TVs -- and now they're looking to shake up the PC market the same way. I don't know how these will perform, but holy crap the new Vizio PCs and notebooks look amazingly good. Indeed, they may beat sleepy PC giants at their own game. Their designer must be a genetic mix of Jon Ive and Tony Stark.
The Vizio Tablet, which impressed us in June with its keen video focus and dirt cheap price tag, is now available in stores for an easily swallowed $US300.
OnLive's streaming game service has been baked right into Vizio's VIA Plus TVs, plus their tablet and smartphone. It'll work through an app, with 1080p res and stereoscopic 3D gaming.
Europe had the stunning Philips' 21:9 TVs, and now America is getting some 21:9 wonders with Vizio's Razor LEDs sometime this year, in 3D 50 and 58-inch options. Will we see something similar in Oz? Please?
Hey, look: Vizio's Android smartphone and tablet, which share the same "Via" name, have gone all official, and are unsurprisingly compatible with Vizio TVs and Blu-ray players—meaning these Via products will act as remotes for Vizio's Google TVs.
Well that didn't take long: Mere days after a Vizio executive cheekily pawed at a mystery tablet device during the Rose Bowl, the company has confirmed the existence of a Via line of devices featuring a mobile phone and a tablet.