LeEco, the Chinese technology company that charged into the US market like a cannonball on fire, is putting on the brakes as the company appears to be running into financial trouble.
Following its rapid expansion back in 2016 and a huge CES appearance in early 2017, LeEco is reportedly trimming 325 employees, or approximately 85% of its workforce in the US. The decision is a culmination of all of the company’s financial misfortunes which also resulted in a failed $2 billion acquisition of Vizio and the sale of its massive 49 acre Silicon Valley property almost immediately after acquiring it.
Amidst the chaos, the founder of LeEco, Jia Yueting, has [...]
The last thing you’d expect your TV to do is to steal your information without your consent. Unfortunately, owners of Vizio smart TVs are about to get a rude awakening.
After a lengthy investigation by the FTC, Vizio was found to have collected and sold customer information through 11 million of its TV sets. Statistics collected include location, demographics, and viewing habits-all of which were collected in real-time. Affected setups include cable, broadband, set-top boxes, streaming devices, and even DVDs. Visio did not directly address its wrongdoings in spite of the $2.2 million penalty.
“Today, the FTC has made clear that all smart-TV makers [...]
LeEco is a company many people in the US have never heard of, but the company has been making a huge effort to capture the American market. After its purchase of Vizio last year, and release of its own-branded smart TVs and smartphones last year, the company has made the next move in becoming a household name in the US; it’s started selling its products on Amazon.LeEco Smart TVs and Smartphones Available on Amazon
It's true! You can now get ecophones and ecotvs @Amazon! https://t.co/SkTkv1H3oJ #LeNext pic.twitter.com/OVY2Cx6Dlm
— LeEco Global (@LeEcoGlobal) January 16, 2017
The products the company has now [...]