Chinese tech firm LeEco agrees to buy Vizio TV maker for $2B

Chinese video streaming company LeEco is breaking into the U.S. TV market by buying Vizio, a manufacturer of budget-priced sets. The combination promises a marriage of hardware and content as tightly linked as your smartphone is to your monthly voice and data plan.

The $2 billion purchase announced Tuesday marks another ambitious foray by LeEco. The company's chairman and CEO, billionaire Jia Yueting, is also behind Faraday Future, an electric car company building a massive plant near Las Vegas.

At an event in Los Angeles, Jia promised "disruptive pricing" reminiscent of how it bundles video subscriptions with smartphone and smart TV purchases in China. He also...