Vizio Still No. 1 in U.S., Extends Market Share in Q1Wednesday, June 22, 2011
Irvine’s Vizio Inc., which designs and markets flat TVs here, grew its market share in the first quarter, extending its lead as the biggest seller of liquid-crystal display sets in North America.
The company sold 1.5 million TVs in the quarter for a total North America market share of 21.4%, according to data released this month from DisplaySearch, a unit of Port Washington, N.Y.-based NPD Group Inc.
That’s up 46% from a year earlier as Vizio had four of the top five selling LCD models in the U.S., according to Portland, Ore.-based Quixel Research LLC.
It took share from big-name competitors, including Samsung Group, Sony Corp. and Funai Electric Corp., which sells sets under the Philips brand in the U.S.
No. 2 Samsung sold 1.2 million sets and had 16.6% share. No. 3 Funai sold 884,000 and had 12.1% share. No. 4 LGE sold 783,000 for 10.7% share.
Rounding out the list were No. 5 Sony, No. 6 Sanyo Corp. No. 7 Toshiba Corp., No. 8 included a mix of TV makers, No. 9 Sharp Electronics Corp. and No. 10 Panasonic Corp.
Vizio sold 6.9 million TVs in 2010 for a total North America market share of 18%, according to DisplaySearch.
Vizio also topped Samsung in the light emitting diode, or LED market, selling nearly 733,000 units for a North American market share of 29%.
Samsung sold 582,000 LED TVs for a market share of 23%.
Vizio started in 2002 amid the flat-screen boom and now has yearly sales of about $3 billion.
It does all the product design, engineering, marketing and customer service locally. Most everything else is done in Asia.
Vizio sells its TVs at Costco, Wal-Mart, Target, Best Buy and other big box retailers.