Looks like Vizio is having as much success with low-end HDTV as Pioneer had failure, setting new sales records despite tough economy. I guess to most consumers price trumps quality when it comes to HDTV.
VIZIO 2nd LARGEST Shipper of HDTVs in U.S. Market
- VIZIO sell through increases 52% for Holiday 2008 over 2007
- VIZIO firmly positioned in top tier with unit shipments of over 1.2 million HDTVs in the fourth quarter of 2008
IRVINE, Calif., Feb. 19 /PRNewswire/ -- VIZIO, America's HDTV and Consumer Electronics Company, announced today that according to preliminary iSuppli reports, their 2008 4th quarter sales accounted for 15% of all flat panel (FPTV) shipments to the U.S., elevating them to the second largest shipper of HDTVs*. Despite competitor's efforts to maximize market share with discounted products and promotions, iSuppli reported that VIZIO still experienced 15% Year-Over-Year growth in Q4 FPTV sales by selling 1,238,840 units*, which is the largest per quarter shipping quantity in VIZIO company history.
"The demand for VIZIO products has never been stronger," stated Laynie Newsome, VIZIO Co-Founder and VP Sales & Marketing Communications. "Even during times when tier one competitors drop their prices (and lose millions of dollars in the process) the American Consumer clearly recognizes VIZIO as a preferred consumer electronics brand."
"VIZIO demonstrated 53% Q/Q flat panel TV growth in Q4'08, the strongest among the top 10 brands for all of North America according to DisplaySearch's shipment tracking, climbing from #5 to #3 in total flat panel TV units while basically only participating in the U.S. market**," said Paul Gagnon, Director of North America TV Market Research, DisplaySearch. "We expect that consumers in 2009 will be especially concerned with getting the most value for their money, which aligns well with VIZIO's product strategy, even in their premium XVT line."
Even in a difficult retail environment, VIZIO exceeded its sales goals by significantly increasing Holiday (November 24 - December 31) unit sales by 52% over 2007 levels. VIZIO's sales momentum has continued through to the first quarter of 2009 with increased demand from key retail partners.
"According to our initial analysis and despite the current economic downturn, VIZIO has moved to the number two position in the U.S. flat panel TV market during the critical fourth quarter," said Riddhi Patel, Principal Analyst at iSuppli. "The current sales environment is obviously difficult for all television makers due to the slowdown in consumer spending; retaining position and achieving growth in these challenging times is an accomplishment."
"VIZIO has already shown incredible success in offering models that accelerate their unit sales according to Quixel's quarterly reports. The brand regularly ranks among the top 5 best sellers in the U.S. for Flat Panel TVs. This quarter was no different with the brand's VW32L and VW22L models placing 1st and 5th in unit sales," stated Tamaryn Pratt of Quixel Research. "Growing into smaller and higher performance products while maintaining their value pricing rewarded the brand and their partners with additional market share during the holidays."