Monday, May 31, 2010

VIZIO accelerates performance products and technologies in Q1 2010

IRVINE, USA: VIZIO, America's LCD HDTV company, recently announced 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 (ASP) that grew 27 percent for the quarter. VIZIO, which sold 1.066 million LCD HDTVs in the US for the quarter, attributes much of its success to a 225 percent 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 percent 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."

"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.

"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 US."

DisplaySearch recently released its 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 percent 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 percent ASP increase according to DisplaySearch.

"VIZIO continues to see strong growth in large screen sizes, with the 40"+ segment rising from 21 percent of shipments in Q4'09 to 32 percent of shipments in Q1'10. VIZIO also had the strongest improvement in ASP among the top North America LCD TV brands from Q4'09 to Q1'10, rising more than 27 percent. 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."

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