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Travis Hockersmith Email
Group VP, Platform+ . VIZIO
Irvine, CA
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Employees:
1157Revenue:
$215.6MAbout
Vizio also sells through Circuit City, Kmart, Costco, Wal-Mart\'s Sam\'s Club and BJ\'s Wholesale Club. Industry watchers were anticipating a gain for Vizio”\"but not a takeover, according to iSuppli analyst Riddhi Patel. \"A year and a half ago, Vizio was an unknown brand,\" Patel said. \"They have gained great brand recognition. We anticipate that adding Wal-Mart and Sears to the mix is going to be a good move.\" Sales for the privately held company are $1 billion at the half-year mark and are expected to double by year\'s end. Vizio is growing as a cheaper alternative to the big-name brands. The company is riding a wave of growing sales of digital flat-panel TV, according to iSuppli. Customers are being spurred to buy because of falling prices. Regulation requiring broadcasters to end analog broadcasts in favor of digital in 2009 also are a factor. Prices for liquid crystal display TVs are falling fastest for 40- and 42-inch screens”\"at a rate of about 40% from the end of last year, Patel said. For smaller sizes, prices have fallen about 32% during the same period, she said. Flat-screen TVs are being sold and promoted in more places than ever before, according to Patel. \"Now most brands are available across all types of retail stores,\" she said. \"You can walk into Wal-Mart and find a Sony.\" You\'ll also find a Vizio alongside, often at hundreds of dollars less than Sony and Samsung. Vizio founder and Chief Executive William Wang said he likens the company\'s strategy to the low-cost approaches taken by PC maker Dell Inc. and budget airline Southwest Airlines Co. The company\'s 42-inch LCD set sells for about $1,000. Samsung sells a 40-inch LCD set for about $1,600. \"We have always had a vision that the flat TV should be more affordable, so that its adoption in the U.S. will be faster,\" Wang said. \"By using price, we are always trying to increase the overall market share, not steal it from our competitors.\"VIZIO Address
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