China tech giant's American dream awakes to harsh reality

Beijing

AN ambitious Chinese technology giant with a French-sounding name burst into the US last year with dreams of disruption. Called LeEco, it offered to buy Vizio, one of the biggest names in American big-screen televisions, for US$2 billion.

Its founder backed an American startup that showed off a sleek electric concept car. An affiliate was gearing up for the release of The Great Wall, having helped to finance the US$150 million film that starred Matt Damon and was intended to show that China could make its own Hollywood-style blockbusters.