Jia Yueting appeared on the site of the acquisition of VIZIO and witnessed LeTV's ecological landing in the United States
"For the next three years, for LeTV, the first is to promote vertical extension and accelerate cross-ecological and cross-industry chemical reactions, including the acquisition of VIZIO, cooperation with TCL, and Cool. The second is to fully implement the globalization strategy and explore To open up a broader new market outside China, we must let Letv see its ecological model in the world." After announcing the purchase of VIZIO, the largest TV brand in the United States, for US$2 billion and letting LeTV enter the ranks of the world's largest group in just 3 years, LeTV founder Jia Yueting stated in an interview with Chinese media: LeTV 7 The ecology of the eldest son is already complex enough. The next step will be to slow down the pace of horizontal expansion and push forward the vertical chemical reaction. It is hoped that each sub-economy will rush into the top three or even the first in the industry.
With the completion of this acquisition transaction, this will create a new giant with the top three shipments in the global color TV industry. However, for Jia Yueting, it is not a simple superposition of the two sides in terms of scale, but a deep chemical reaction between the disruptors of the electronic age and the disruptors of the Internet era, which has the potential to bring LeTV's ecological model to the global market. .
In response, Wu Xianjian, deputy secretary-general of the China Household Electrical Appliances Business Association, pointed out that LeTV's acquisition of VIZIO is not just a simple cross-border capital merger, but more importantly, it proves that the direction and subversion of the traditional industry by the Internet economy and model are correct. First, in the color TV business, LeTV's ecological model can be launched, and it will bring about continuous subversion of the global color TV industry. Second, for LeTV, Jia Yueting advocates the use of future acquisitions of outstanding companies and the future. The idea of ​​acquiring a company of the future can be landed."
In that year, VIZIO took only 15 years to compete in the highly heated US market and broke out under pressure from Samsung, LG and Sony. It became the largest in the United States and the second largest in the US smart TV market. Giants. Today, LeTV is only used for 3 years. With the "platform + content + terminal + application" ecological model, it succeeded in surpassing foreign giants such as Samsung, LG, and Sony in the Chinese market.
In this regard, Jia Yueting pointed out, "For LeTV, this is just a starting point. Samsung and LG have dominated the global TV market for many years. This is a huge risk in the eyes of others, but it is a huge opportunity in the eyes of LeTV. The television industry is the next one. The era will be the era of Internet ecology, not just the combination of hardware or 'hardware + software'. In the next 2-3 years, LeTV hopes to bring this model to the world."
In fact, LeTV's acquisition of VIZIO is not surprising. As early as 3 years ago when LeTV chose to enter the color TV industry from the Internet industry, it has been in close contact with VIZIO. At the same time, LeTV quickly completed the seven-sector eco-Internet in the Chinese market: cloud, content, sports, big screen, mobile phones, automobiles, and financial layout. At the beginning of this year, it started globalization, eco-global opening, and continuous chemical reactions between sub-ecosystems. The new strategic move to open LeTV in the global market to promote ecological openness and landing.
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