| Vizio Comments on Lawsuit by LG |
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| Home Theater News Industry-Trade News | |
| Written by AVRev.com | |
| Monday, 06 October 2008 | |
Ironically, VIZIO has been a large indirect customer to LG Electronics for plasma technology. Through close collaboration with LG Electronics, VIZIO achieved a 25% market share of Plasma HDTV shipments in North America as of the second quarter of 2008, and John Morriss, VIZIO VP & GM of Core Products, has confirmed that the filing of the suit is “a regrettable occurrence, and we fully expect this new development will influence future material sourcing decisions.” Nonetheless, VIZIO’s suppliers have licenses for a vast array of digital technologies, and VIZIO believes that these licenses extend to VIZIO’s products. VIZIO has notified its suppliers of the lawsuit and expects full support and cooperation by them in the defense of the lawsuit. Accordingly, VIZIO does not believe that the suit will have a material adverse impact on VIZIO’s business. VIZIO is actively engaged working to resolve this matter with its suppliers and the plaintiff LG Electronics to resolve this matter but nevertheless intends to defend its legal rights with vigor. Like this article? Bookmark and share with any of the sites below.        |
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