Don’t bet against William Wang.
The head of Irvine-based Vizio Inc. introduced several new products in 2011, as he continued to transform his flat-screen TV business into a diversified consumer electronics company.
Wang has kept his eyes on that goal ever since starting the company a decade ago, when he waded into a competitive field filled with established brands.
Today, that vision is as clear as the images displayed on Vizio’s top selling liquid-crystal display sets.
Vizio built its reputation with low-cost, flat TVs. Sales at Wal-Mart, Target and other big retailers helped the company to the top spot for market share in North America, passing long-established rivals such as Samsung Group and Sony Corp.
Now Vizio is using the same recipe to make a splash in the growing tablet market.
The 8-inch Vizio Tablet hit retail shelves across the country in early 2011 at about $300 amid moves by big-name competitors to slash prices on their models. Vizio finds itself in familiar territory as it tries to wrestle away market share from larger competitors.
Vizio faces tablet competition from Apple Inc., Amazon Inc., Motorola Inc. and Research in Motion.
Wang welcomes the challenge.
“We can bring the prices down,” Wang told the Business Journal.
Vizio’s tablet, which runs on Google Inc.’s Android system, includes a built-in HDMI port, a universal remote app that can control a home theater system and another that links with the company’s TVs, Blu-ray players and other devices.
In June, Vizio introduced a line of light-emitting diode, or LED, light bulbs at the Consumer Electronics Association show in New York. The recyclable, mercury-free bulbs are expected to hit the market soon at “a Vizio price,” according to Vizio cofounder Ken Lowe.
Vizio is aiming to get a foothold in the LED lighting market as the industry, businesses and consumers replace incandescent bulbs with more energy-efficient ones. Vizio’s bulbs are expected to replace 40- and 60-watt bulbs and floodlights.
“The goal was always to build a consumer electronics company,” Wang said. “It was never meant to be just a TV company.”
Brand Building
TVs were a great way to establish and build a brand, he said.
And few have done that better than Wang who pushed Vizio to the upper ranks of Orange County’s private companies, with some $3 billion in annual sales.
In April, he signed Los Angeles Clippers star Blake Griffin to pitch its low-cost digital TVs and other products.
That followed a four-year deal for Vizio to be the presenting sponsor of the Rose Bowl. The last year of the package, which runs through 2014, includes the BCS National Championship Game, when millions tune in across the globe.
In October, Vizio deviated from its traditional marketing push of big-budget TV spots and event sponsorships to tout its brand and boost sales of 3D TVs.
Splashy Event
It rolled out the red carpet at South sports bar in Santa Monica to debut its newest line of 3D TVs, tablets and Blu-rays for a VIP list of athletes, actors, executives and local media. The event was hosted by Griffin.
Attendees were given Vizio theater 3D glasses at the door and invited to check out the bar’s 33 3D TVs. Most of the patrons watched the University of Southern California and University of California, Berkeley, football game on ESPN’s 3D channel. Others watched 3D movies and played video games.
The entire entertainment system and lighting at South is managed by one Vizio tablet, which controls the audio-visual system, lighting, music and televisions.
The marketing push came a few weeks before Vizio rolled out a 3D bundle pack for less than $700. The set includes a 42-inch 3D TV, four sets of glasses, a Blu-ray player and 25 hours of free downloads from vudu.com.
The product line has already won some industry watchers over.
The theater 3D technology earned Popular Science’s nod for “2011 Best of What’s New Award” last month in the home entertainment category.
