VIZIO Grabs Top Share of Shrinking LCD HDTV Market in Q1
By Rachel Cericola
It seems that discounts do matter. California-based VIZIO, best known for its cheap flat panel TVs on display in the warehouse stores and at discount chains such as Wal-Mart and Target, has been named the number one shipper of high-def LCD TVs in North America for Q1 2009, per a third party research firm.
According to research group
iSuppli, VIZIO was the leading seller of LCD televisions in the first quarter of this year, capturing 21.6 percent of the overall LCD TV market. Despite the recession and a drop in overall LCD sales, those numbers are up from a 13.8 percent share in 2008's fourth quarter.
"Due to its aggressive pricing, VIZIO for some time has maintained its position as North America's top-selling LCD TV value brand," said Riddhi Patel, principal analyst, television systems, for iSuppli. "However, since the onset of the economic downturn, VIZIO's share has risen dramatically." Apparently it's a good time to have a brand that screams, "Value!"
The downturn has also caused overall LCD TV sales to drop 23.2 percent from Q4, 2008, for a total of 6.3 million sets sold in the first quarter. Of course, that number typically peaks during Q4's holiday rush, so the drop wasn’t a huge surprise or cause for concern.
In iSuppli's other findings, the previous title holder, Samsung, came in second this time around, dropping just 0.7 percentage points to 19.9%. Sony came in third at 16.6% while LG and Sharp rounded out the top five, in that order. An "Others" category accounted for 21.9 percent of the market, which is down from 29.4 percent in the fourth quarter of 2008 as third and fourth tier brands fall by the wayside.
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Depending on the size, VIZIO often prices its LCD models hundreds of dollars lower than competitors.
