Vu Televisions: Difference between revisions
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| founded = 2006 |
| founded = 2006 |
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| founder = Devita Saraf |
| founder = Devita Saraf |
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| hq_location_city = |
| hq_location_city = Mumbai |
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| hq_location_country = India |
| hq_location_country = India |
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| area_served = Worldwide |
| area_served = Worldwide |
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Revision as of 18:51, 18 July 2020
| Company type | Private limited company |
|---|---|
| Industry | Television technology |
| Founded | 2006 |
| Founder | Devita Saraf |
| Headquarters | Mumbai , India |
Area served | Worldwide |
Key people | Devita Saraf (CEO and Design Head) |
| Products |
|
| Brands | Vu |
Number of employees | 5000 |
| Website | vutvs |
Vu Televisions (also Vu Technologies) is a television brand and an LED TV and display manufacturer founded by Indian businessperson Devita Saraf, in the United States of America in 2006 It is the largest-selling TV brand across e-commerce platforms in India.[1]
History and products
Vu Technologies was founded as a high-end electronics company in 2006 by Indian businessperson Devita Saraf, who became its CEO and Design Head.[2]
With a sales turnover of ₹1 billion, the company turned profitable in 2012. It started exporting televisions to the United States.[3] Vu introduced ultra-high-definition television (4K HD) in 2014.[4] At the end of the year, the company, valued at ₹2 billion, was selling about 40,000 televisions a year.[3]
Vu had annual sales of $30 million in 2015, with 300,000 units sold.[5][6] Vu Technologies gave away a 25% stake in the company to private equity investors.[3]
In 2016, Vu introduced entertainment-focused apps on its TVs, with video on demand including Netflix as a preloaded feature.[7] The company had 20 own stores in Indian cities. Already producing TVs with a range of input options, including features like MHL compatibility and built-in Miracast support, the company launched Vu SuperMac TV, India's first TV with built-in OS X Mountain Lion Operating System. It has also manufactured Windows and Android-based televisions. Its designer TV sets include one made in collaboration with designer Tarun Tahiliani, with a Swarovski crystal frame.[2][8]
Aside from India, Vu Televisions are sold in 60 countries.[2] The company sells a majority of its televisions online and has become the highest-selling TV brand across e-commerce platforms in India.[1][9] In 2016, Flipkart became its exclusive online sales partner.[10] The share of Vu grew to 40% of the total marketshare in the TV category for Flipkart.[11]
Vu Technologies imports all the components for panel manufacturing from China, Taiwan, South Korea and Japan.[12] The company had an annual turnover of Rs 5 billion for 2016–17, and Flipkart reported that Vu had grown 200% on its marketplace in that period. According to analysts, the main reason for such growth was its offer of high-quality TV sets at affordable prices. Vu is expected to generate sales of about Rs 8.5–9 billion by March 2018.[11][13][14]
References
- ^ a b Gulveen Aulakh (13 September 2016). "Vu launches premium TVs in The Republic of India, aims for No. 4 slot in high-end segment". The Economic Times.
- ^ a b c Rashi Varshney (14 November 2016). "Vu Technologies gives TV sets a tech makeover". Financial Express.
- ^ a b c Purvita Chatterjee (10 December 2014). "Vu Tech to offload 25% stake to PE funds". The Hindu Business Line.
- ^ Sulabh Puri (12 September 2014). "Vu Technologies Launches Quad-Core 50 And 55-inch 4K TVs in India". Business Insider India.
- ^ Naazneen Karmali (15 January 2016). "India's Devita Saraf Steps Out To Become A 'Model' CEO". Forbes.
- ^ Sunny Sen (25 May 2016). "The rise of Indian TV makers, a threat to Samsung, LG and Sony". Hindustan Times.
- ^ "TV ads just went digital, and this could have far reaching impact on the industry". BGR. 25 April 2017.
- ^ Gopal Sathe (20 February 2015). "With New TVs, Vu Hopes Mobile Video Consumption Will Move to the Big Screen". Gadgets 360.
- ^ Purvita Chatterjee (7 September 2016). "To counter LeEco, Videocon drops price for 4K ultra HD TV". The Hindu Business Line.
- ^ "After VU TVs find their way to Amazon, Snapdeal, company clarifies its exclusive online sales partner is Flipkart". Financial Express. 21 December 2016.
- ^ a b Payal Ganguly (17 May 2017). "Vu TV increases market share with Big 10 Sale". The Economic Times.
- ^ "Vu Tech to enter more cities, eyes Rs 500 crore sales in FY17". The Economic Times. 12 May 2016.
- ^ Eric Bellman (23 January 2017). "Trump Inauguration: Why One of India's Top Female CEOs Took Out an Ad to Congratulate the President". The Wall Street Journal.
- ^ Anirban Sen (17 May 2017). "Vu Technologies expects to nearly double sales to Rs 900 crore by March 2018". Live Mint.