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By the fourth quarter of 2010, VIZIO HOLDING CORP. (VIZIO) would become the largest flat-panel liquid-crystal display (LCD) TV manufacturer in the United States. But in 2002, when William Wang founded the company after leading a series of computer-monitor companies, that market dominance was far from clear. This A case offers an overview of the evolution of flat-panel TV technologies, with particular attention to the value chain, and introduces some of the particular challenges and opportunities VIZIO confronted when it began offering its 42-inch LCD TVs. Given this context, students consider how to design a value chain for VIZIO to capitalize on the opportunities while overcoming the challenges. The related B case follows VIZIO’s story through 2018 and introduces new challenges and opportunities. This case set is taught in the final-year undergraduate, MBA, or Executive MBA strategy class; it would also be suitable in a module covering entrepreneurship.