The latest in OTT video news, deals, launches and products from the team at Faultline. Chinese electronics manufacturer LeEco has backed out of its $2 billion takeover of US TV maker Vizio – a deal which Faultline Online Reporter predicted to fail from the offset, as we suggested at the time that the “Netflix of China” should have bought a company with a direct route to the OTT market instead, one like Roku. Not too long ago, LeEco was thought to be the world’s fastest growing smartphone vendor, but the company has run into trouble after missing its US sales target by a wide margin and is planning to slash 175 jobs, around one third of its US workforce. Bloomberg…