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The company was founded in 2002 as V Inc. by entrepreneur William Wang and two founding employees. [5] [6] [7] By 2004, Wang changed the company name to Vizio.[8] [9]In 2006, the company's revenue was estimated at $700 million, and in 2007 it was estimated to have exceeded $2 billion. [10]
In 2001, Gateway, Inc. asked Wang to help put together a TV plan. Ted Waitt, Gateway's then chairman, had been one of Wang's customers at MAG, his former company and had become a mentor to Wang. [2] Wang's team helped Gateway put together its 42-inch plasma TV system, priced at $2999. Comparable systems at the time sold for upwards of $6000. [3]
Another industry trend was the consolidation of plasma display manufacturers, with around 50 brands available but only five manufacturers. In the first quarter of 2008, a comparison of worldwide TV sales broke down to 22.1 million for direct-view CRT, 21.1 million for LCD, 2.8 million for plasma, and 0.1 million for rear projection. [33]
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Vizio is getting snapped up by Walmart in a deal worth $2.3 billion, as the U.S.’s biggest retailer looks to break into into connected-TV advertising. The companies announced Tuesday (Feb. 20 ...
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