Vizio Inc. (stylized as VIZIO) is an American publicly traded company that designs and sells television
s and sound bar
s. The company was founded in 2002 and is based in Irvine, California
, United States.
[Lawton, Christopher, Iwatani Kane, Yukari and Dean, Jason]
U.S. Upstart Takes On TV Giants in Price War
, ''The Wall Street Journal'', 2008-04-15. Retrieved on April 15, 2008.
The company was founded in 2002 as V Inc. by entrepreneur William Wang
, with Laynie Newsome and Ken Lowe as founding employees. By 2004, Wang changed the company name to Vizio.
In 2006, the company's revenue was estimated at around $700 million, and in 2007 it was estimated to have exceeded $2 billion. Vizio is known for selling its HDTVs at lower prices than its competitors.
On October 19, 2010, Vizio signed a 4-year contract to sponsor U.S. college football
's annual Rose Bowl
game in Pasadena, California
, beginning with the 2011 Rose Bowl
and ending with the 2014 Vizio BCS National Championship Game
. When the Rose Bowl contract ended, Vizio signed a contract to sponsor the Fiesta Bowl
making the official name the Vizio Fiesta Bowl.
In late 2014, Vizio acquired Advanced Media Research Group, Inc., the parent of entertainment website BuddyTV
On July 24, 2015, Vizio filed with U.S. regulators to raise up to $172.5 million in an initial public offering
of Class A common stock
; however, the IPO was never completed.
In August 2015, Vizio acquired Cognitive Media Networks, Inc, a provider of automatic content recognition
Cognitive Media Networks was subsequently renamed Inscape Data
In November 2015, the U.S. Federal Trade Commission
(FTC) and Office of the New Jersey Attorney General
brought charges against Vizio, alleging it collected non-personal information on its customers and sold it to advertisers. In February 2017, Vizio agreed to pay $2.2 million to settle the charges. Additionally, the settlement required Vizio to delete the data it had captured and update its data collection practices. After the settlement, the company only collected data from TV units that opted in through disclosures.
On July 26, 2016, Chinese electronics company LeEco
announced that it would acquire Vizio for US$2 billion;
however, the acquisition was cancelled in April 2017.
From the year 2018 onwards, Vizio launched its SmartCast across all television sets including apps such as Netflix
In 2018, Vizio launched a free streaming service called WatchFree, powered by Pluto TV
, on its SmartCast platform.
As of 2021, Vizio had 527 employees across the U.S. in states including California
, South Dakota
, and New York
In March 2021, Vizio filed for an IPO.
Vizio produces television sets and soundbars and has previously produced tablets, mobile phones and computers. Vizio manufactures its products in Mexico
, and Vietnam
under agreements with ODM
assemblers in those countries.
Television sets are Vizio's primary product category, and in 2007 the company became the largest LCD TV
seller (by volume) in North America
. In February 2009, Vizio announced they would stop production of plasma
televisions and would focus on the LED-backlit LCD displays .
In March 2016, Vizio announced the release of SmartCast TVs that allowed users to control the screen from a tablet or mobile app. The following year, Vizio relaunched its smart TV platform to include apps directly on the screen, including Amazon Prime Video
In 2018, Vizio released its first Quantum Dot LED 4K TV. Vizio has added functionality for Google Assistant
-enabled devices, Apple Airplay2, Apple HomeKit and gaming features for its SmartCast TVs.
In 2020, Vizio released its first OLED TV.
Vizio's sound bar products are named by series, including the V-Series, M-Series, and Elevate. Series names pair with suggested TV products.
In 2013, Vizio released the Home Theater Sound Bar.
In 2018, the company released its first Dolby Atmos
soundbars. In 2020, Vizio released the Elevate soundbar, the first Atmos soundbar with rotating speakers.
At CES 2020, Vizio earned the CES innovation award product designation for the Elevate sound bar.
Vizio's audio collection includes entry and mid-level sound bars that include surround sound, as well as premium versions.
Vizio has previously produced other products in addition to televisions and soundbars. In 2011, Vizio introduced the Via Tablet and Via Phone, its first tablet and mobile phone products. The following year, Vizio began producing laptops, creating a lineup of PC computers that came in ultrabook and notebook models. Also in 2012, Vizio introduced several HD Android smartphones
in Asian markets, including China, and began selling the "Vizio Co-Star," a Google TV
digital media player. In 2013, the company released the Vizio Tablet PC, its first Windows 8 tablet. The company stopped producing tablets and computers in 2014.
Category:American companies established in 2002
Category:Electronics companies established in 2002
Category:Companies based in Irvine, California
Category:Consumer electronics brands
Category:Display technology companies
Category:Electronics companies of the United States
Category:Video equipment manufacturers
Category:2002 establishments in California
Category:Manufacturing companies based in Greater Los Angeles
Category:Companies listed on the New York Stock Exchange
Category:2021 initial public offerings