The Chinese mega-company had agreed to buy the US TV maker in July. The deal is called off amid reports of a cash squeeze.
Jia Yueting, LeEco CEO, introduces new smartphone last year in Beijing. The company announced Monday that its deal to buy US TV maker Vizio won’t go forward.
Chinese tech company LeEco won’t go through with a deal announced in July to buy US TV manufacturer Vizio for $2 billion.
Citing «regulatory headwinds,» the companies said in a joint statement that they’d still be looking for ways to partner with each other. «We continue to believe that there is great synergy between the two companies,» the statement said.
LeEco has tried make a big splash with its debut in the US.
