CORRECTED-UPDATE 1-Baidu's video unit iQiyi files for U.S. IPO that may raise over $1.5 bln

BEIJING, Feb 28 (Reuters) - Chinese video streaming service provider iQiyi Inc, a unit of search engine firm Baidu Inc , filed on Tuesday for an initial public offering that is set to raise more than $1.50 billion amid fierce competition in China's online entertainment market.