LeEco has been struggling financially as of late as it expands globally, but Chinese real estate holding company Sunac China Holdings seems to have faith in the company as it acquired stakes in three LeEco businesses for 16.8 billion yuan, or about $2.4 billion.
Sunac acquired relatively small stakes in LeEco's video streaming service and film production unit, alongside a 33% stake in LeEco's television hardware subsidiary. LeEco has had some interesting TVs of late, but the company as a whole has struggled to prove itself in global markets, especially in the U.S., and the company has undergone shake-ups, layoffs and has overextended itself, leaving the future of the company uncertain as it continues to refine and condense its plans going forward.
An investment like this is a considerable vote of confidence, but it still remains to be seen if LeEco can put it to good use. We can only hope.
Google's giving up too much ground in the smart home fight
We're in the thick of our fall launches, but after the tidal wave of new products from Amazon last week, Google's Launch Night In looks like it'll barely make a splash. That's not good, because Alexa and Ring are rapidly gaining on Assistant and Nest.
Luna is both a safe bet and Amazon's best idea in years
Is "rolling your own" Netflix-style game library what we really want? Amazon thinks so.
Google's parent company settles shareholder lawsuit over sexual misconduct
Following sexual misconduct reports from 2018, Google has settled a shareholder lawsuit and announced major changes to how the company operates in these regards — including no severance packages for employees fired over sexual misconduct.
These are the best rugged Android phones
Living the rough and tumble life? Get yourself a smartphone that can handle everything you throw at it — or throw your phone at.