Vizio Q2 Smart TV Sales Fall on Chip Crunch
Vizio smart TV shipments fell 31% in Q2 to 1.1 million sets, driving device revenue 9% lower than a year earlier to $335.6 million even as the Platform+ business had 146% revenue growth to $65.5 million. Vizio generated more advertising…
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revenue in first-half 2021 than 2020 total, said Chief Financial Officer Adam Townsend on a call Wednesday (see Q2 materials here). Industrywide “supply and logistical challenges” contributed to shipment decline, as did tough comparisons with Q2 a year earlier as the COVID-19 took hold in the U.S., said Townsend. “The good news is, consumer demand remains robust and average unit prices continue to shift higher.” Amid the pandemic, it’s hard to predict “what will happen next” in the supply chain, said CEO William Wang. The semiconductor and components shortage situation is “getting better,” he said. With the delta variant “unpredictable, we don’t really know what’s going to happen,” he said.