In the past, we have seen various TV makers move to create audience among the consumers, also seen their ups and downs in the global market. Now, a 13-year-old brand Vizio, has planned to grow its business and also made a huge move to go public. The company has made a name among the people by selling valued televisions to the consumers at very impressive prices.
The company is already a leading manufacturer in the soundbar sector and also attempted to sell devices such as smartphones and tablets. Now, Vizio wants to make it a public company. Till now the company has sold more than 15 million units of smart televisions, according to the filing made by the company. Till now, viewers were benefited more than 3 billion hours of visual contents and the software embedded in the smart-TV allows them to track different information about what users were playing on it.
In its S-1 filing, Vizio mentioned as,
Our products are sold in over 8,000 retail stores across the United States. We held the #1 unit share position in the U.S. sound bar industry (1) and the #2 unit share position in the U.S. Smart high definition, or HDTV, industry in 2014.(2) For the years ended December 31, 2013 and 2014 and the six months ended June 30, 2015, we generated net sales of $3.0 billion, $3.1 billion and $1.3 billion and reported net income of $25.7 million, $45.0 million and $31.4 million, respectively. Substantially all of these amounts were generated from the sale of televisions and sound bars.
The company has filed a prospectus with United States’ Regulators, in order to raise $172.5 million as initial public offerings. The company has not yet officially disclosed any documents about the number of shares available in the market in the future.
The company has founded in the year 2002, and made a name for selling consumer electronics at very affordable prices. Vizio will come under the ticker “VZIO” as Class A common stock listings.
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