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VTech history
VTech company history timeline
VTech was founded in Hong Kong in October 1976 by two local entrepreneurs, Allan Wong (Chi-Yun) and Stephen Leung.
In 1977, the company created its first home TV game console, a version of Pong.
1978 The company releases its first product, a portable video game system.
VTech unveiled its first electronic learning product, called Lesson One, at the New York Toy Fair, in February 1980.
In 1981, the company released its first computer-hybrid product, the CreatiVision.
By 1983, the company introduced a more robust computer, the Laser 200 series.
In the meantime, the company had become an early entrant into the market for satellite receivers, producing its first receiver in 1984.
VTech caught onto Apple's fast-rising coattails, releasing the Laser 3000 in 1985.
With the launch of the Laser 128 in 1988, VTech succeeded in releasing a computer that was nearly 100 percent compatible with the Apple IIc.
1988 A production plant is established in Guangdong province in mainland China.
As part of that effort, the company delisted its stock from the Hong Kong Stock Exchange, and instead launched a new public offering in 1991, placing its shares on the London Stock Exchange as well.
Taking advantage of this, VTech began development on a cordless telephone, using the 900 MHz band, and in 1991 introduced the world's first fully digital 900 MHz cordless telephone.
VTech ended its satellite receiver production in 1993.
VTech exited the personal computer market in 1997, due to tight competition.
By 1998, at the height of the crisis, VTech sales had soared to $842 million, with profits climbing to $69 million.
The company issued a profit warning in March 2001 and launched a broad restructuring plan.
By 2001, VTech had slipped into losses for the first time in its history.
In 2002, the company achieved a new success, becoming the first in the United States market to launch a new generation of 5.8 GHz cordless telephones.
By the financial year 2002, the company had turned around the business and returned to profitability.
2004 The company launches the V.Smile game console for three- to seven-year-olds.
VTech also has announced its plans to release a console developed for children under three years of age in 2006.
The Go! Go! Smart Animals Zoo Explorers Playset won the "2015 Infant/Toddler Toy of the Year Award" in the US
In February 2016, Hunt publicized the fact that VTech had modified its Terms and Conditions for new customers so that the customer acknowledges and agrees that any information transmitted to VTech may be intercepted or later acquired by unauthorized parties.
In January 2018 the US Federal Trade Commission fined VTech US$650,000 for the breach, around $0.09 per victim.
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VTech competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Human Factors International | 1988 | $32.9M | 200 | - |
| DIS | - | $8.5M | 90 | 1 |
| M3 Technology | - | $6.1M | 30 | 2 |
| Equus Compute Solutions | 1989 | $3.1M | 35 | 5 |
| TSD Rental | 1983 | - | 176 | - |
| ADCom Solutions | 1985 | $122,502 | 6 | 8 |
| 247 Customer.com | 2000 | $1.7B | 15,000 | 4 |
| Skyward | 1980 | $95.0M | 559 | 15 |
| iWorks | 2005 | $13.0M | 150 | 8 |
| Nintendo | 1889 | $13.7B | 6,547 | 92 |
VTech history FAQs
Zippia gives an in-depth look into the details of VTech, including salaries, political affiliations, employee data, and more, in order to inform job seekers about VTech. The employee data is based on information from people who have self-reported their past or current employments at VTech. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by VTech. The data presented on this page does not represent the view of VTech and its employees or that of Zippia.
VTech may also be known as or be related to V-Tech, VTech, VTech Holdings Ltd and Vtech.