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Vizio Pleased With Q1 Results

Vizio announced that many of its newest high performance products and technologies found greater success in Q1 2010.

According to the statement, notable among these are the growth in LED and large screen (50″+) HDTVs that resulted in an average selling price that grew 27% for the quarter. Vizo, which sold 1.066 million LCD HDTVs in the U.S. for the quarter, attributes much of its success to a 225% increase YoY in 50″+ size HDTVs, Full HD 1080p sales that represented over half of all TV sales, and the 120+Hz SPS XVT Series that saw a 250% increase over Q4 2009.

For more information visit: www.vizio.com


Unedited press release follows:

VIZIO Accelerates Performance Products and Technologies in Q1 2010

- VIZIO TruLED and Razor LEDs are up 85% over Q4 2009 as they offered the #1 Best Selling LED LCD HDTV model in the U.S.

- VIZIO 50″+ size televisions sales are up 225% over 2009

- VIZIO high performance 1080p HDTV sales now represent 58% of the brands sales – up from 42% in Q1 2009

- VIZIO premium XVT line up with 120/240Hz SPS technology HDTVs show a 250% increase from sales rates in Q4 2009

- VIZIO Internet Apps (VIA) Connected HDTV Platform proves popular with early adopters with an impressive 70%+ connect rate

- VIZIO outpaces the industry with an average selling price growth of 27% for the quarter

- VIZIO places 2 TVs in Top 3 Best Sellers and the #1 leading LED LCD HDTV

IRVINE, Calif., May 28 /PRNewswire/ — VIZIO, America’s LCD HDTV Company, headquartered in Irvine, California announced today that many of its newest high performance products and technologies found greater success in Q1 2010, reflected in significant average selling price improvements. Notable among these are the growth in LED and large screen (50″+) HDTVs that resulted in an average selling price that grew 27% for the quarter. VIZIO, which sold 1.066 million LCD HDTVs in the U.S. for the quarter, attributes much of its success to a 225% increase YoY in 50″+ size HDTVs, Full HD 1080p sales that represented over half of all TV sales, and a fast refresh rate 120+Hz SPS XVT Series that saw a 250% increase over Q4 2009.

Coming off a spectacular 2009, we see continued improvement and acceleration in our premium TV products. Americans continue to have a strong appetite for high performance TV products and are looking more and more to VIZIO for these latest technologies,” stated Laynie Newsome, VIZIO Co-Founder and Chief Sales Officer. “We continue to remain focused on exceeding our customers’ expectations with exciting and innovative new products like VIZIO Internet Apps, Connected Blu-ray DVD Players, AV optimized wireless Internet routers and other Internet apps enabled entertainment systems.  We are expanding our high definition home theater sound collection, while launching 3D enabled LCD HDTVs, High Definition Personal Home Theater headphones, and razor thin LED LCD portable HDTVs.”

iSuppli U.S. TV Market Tracker – Preliminary Results

2009 Rank* Brand Unit Shipments (000s) Percentage
1 Samsung 1,149 17.6%
2 VIZIO 1,066 16.3%
3 Sony 722 11.1%
4 Sanyo 513 7.9%
5 LG Electronics 500 7.7%
6 Toshiba 449 6.9%
Others 2,126 2,126
Total 6,526 100.0%

*Source – iSuppli Corporation Q1 2010 U.S. TV Market Tracker Preliminary Results, thousands of units.

“An increasing portion of televisions sold in the United States in 2010 are higher end models with larger screen sizes and new features like LED backlighting and 120Hz and 240Hz refresh rates,” said Riddhi Patel, principal analyst, television systems, for the market research firm, iSuppli Corp., El Segundo, Calif. “Companies that can manage to stay on top of these trends will lead the market this year.”

According to Quixel Research, VIZIO’s strength in the quarter was driven in part by two of the top three best selling TVs in the U.S. – the VO320E (32″) and VA26L (26″), but also had the #1 Best Selling LED LCD model – the VM230 as well.

LCD TV Top Best Sellers by Units Q1 2010**

Manufacturer Product Size Resolution Technology List Price
VIZIO VO320E 32 HD 720 LCDTV $499.00
Philips 42PFL3704D/F7 32 HD 720 LCDTV $699.99
VIZIO VA26LHDTV 26 HD 720 LCDTV $499.00

*Source – Quixel Research

“VIZIO’s showing this quarter was very strong with Best Selling models at 32″, and 26″ – covering the key sellers,” stated Tamaryn Pratt, Quixel Research. “They did this at the same time while having a strong showing in value ranking among LED models with the #1 Best Selling LED TV in the U.S.”

DisplaySearch recently released their North America shipment results showing VIZIO’s continuing growth in large size (40″+) HDTVs and advanced technologies spurred in part by the success of the 55″ and 47″ TruLED Internet App HDTVs introduced this fall. VIZIO gains in these larger sizes and premium products garnered the brand an accelerated 27% increase in average selling price of $588 for Q1 2010 over Q4 2009′s $463 – this in a quarter that had the industry finding only a 6% ASP increase according to DisplaySearch.

“VIZIO continues to see strong growth in large screen sizes, with the 40″+ segment rising from 21% of shipments in Q4’09 to 32% of shipments in Q1’10. VIZIO also had the strongest improvement in average selling price among the top North America LCD TV brands from Q4’09 to Q1’10, rising more than 27%. This is a direct reflection of improved mix of advanced technologies like LED and the increase in the 40″+ screen size mix. In fact, more than 3/4ths of VIZIO’s 40″+ LCD TVs are 120Hz or higher in frame rate, which is the highest among the top LCD TV brands.”

About VIZIO

VIZIO, Inc., “Where Vision Meets Value,” headquartered in Irvine, California, is America’s HDTV and Consumer Electronics Company. In 2007, VIZIO skyrocketed to the top by becoming the #1 selling brand of flat panel HDTVs in North America and became the first American brand in over a decade to lead in U.S. TV sales. Since 2007 VIZIO HDTV shipments remain in the TOP ranks in the U.S. and were again #1 in Q1, 2009 with over 20% market share.  VIZIO is committed to bringing feature-rich consumer electronics to market at a value through practical innovation. VIZIO offers a broad range of award winning consumer electronics. VIZIO’s products are found at Costco Wholesale, Sam’s Club, Sears, Walmart, Target, BJ’s Wholesale, and other retailers nationwide along with authorized online partners. VIZIO has won numerous awards including a #1 ranking in the Inc. 500 for Top Companies in Computers and Electronics, Fast Company’s 6th Most Innovative CE Company of 2009, and made the lists of Ad Age’s Hottest Brands, Good Housekeeping’s Best Big-Screens, CNET’s Top 10 Holiday Gifts and PC World’s Best Buy among others.

For more information, please call 888-VIZIOCE or visit on the web at www.VIZIO.com.

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