A POPULAR brand of TVs will soon be sold exclusively at Walmart and Sam’s Club locations.
Vizio TVs are set to become a private-label brand stocked on the shelves of America’s largest retailer by the end of the year.
Walmart is turning Vizio into a private-label brand[/caption]
Bloomberg News announced the move late last week after reviewing an internal company memo.
Vizio will be added to Walmart‘s list of 90 other store brands, according to the report.
It remains unclear whether Vizio will be renamed Onn – Walmart’s in-house electronics brand.
Earlier this month, Walmart announced it would replace Roku with Vizio’s SmartCast operating system on its future Onn-branded smart TVs.
It comes as Walmart acquired the TV manufacturer for $2.3 billion last year in a deal officially sealed in December last year.
The retail giant announced plans to acquire Vizio in February 2024.
“Our media business, Walmart Connect, is helping brands create meaningful connections with the millions of customers who shop with us each week,” Seth Dallaire, the Executive Vice President and Chief Revenue Officer at Walmart US, at the time said.
“We believe the combination of these two businesses would be impactful as we redefine the intersection of retail and entertainment.”
The retailer promised to offer “innovative television and in-home entertainment and media experiences” following the acquisition.
Several months later, Walmart ended sales of Vizio products at Amazon.com and Best Buy, according to Bloomberg.
Walmart’s decision to enter the streaming game was widely regarded as a move to compete with its rival Amazon.
Vizios are known for their budget-friendly prices.
They are often considered a good option for those looking for affordable 4K TVs.
The American designer and manufacturer of TVs, soundbars and related software was founded in 2002 and is based in Irvine, California.
It comes as Vizio agreed to pay certain customers a total of $3,000,000 following a class action lawsuit in 2024.
Although the company did not admit any wrongdoing, it decided to settle claims that it falsely represented the picture quality of its TVs.
Plaintiffs in the lawsuit accused Vizio of claiming that its TVs had a higher refresh rate than they actually did.
Walmart announced plans to acquire Vizio in February 2024[/caption]
