The infatuation of technology has left everyone amazed. Right from a restaurant to manufacturing toys for the naughty toddlers, technology has left its footprints in almost every industry. And with the pace of time, this savvy change is letting us have a better vision of technology. Apart from this, businesses like Vtech toys have turned out to be a huge brand name, that to on a global platform.
For those who are not associated with this industry, may not know much about Vtech. And in case, you are one of those then check this out.
What is Vtech?
VTech is one of the highly renowned Chinese global suppliers of electronic learning products which are specially designed for infants and pre-school students. At present, this brand name is not just familiar with the producing the best electronic range of toys but also for the world’s largest manufacturing and sales of cordless phones in the entire world.
This highly popular brand name is a public company which was founded in October 1976. With having its headquarters in Hong Kong, China, they have launched a series of products including- educational toys, residential phones, business phones, baby monitor devices, hotel extension phones and much more.
Having a staff unit of around 30,000 people, Vtech has become one fat & big brand name which is solely compatible with making US$203.3 million and coming up with US$1,898.9 million of profit. These stats are measured & analyzed from 2014.
History of Vtech-
Vtech is a result of a wonderful association of two entrepreneurs named as Stephen Leung and Allan Wong. They started working on their dream project in October 1976. Their major inspiration behind starting up a business in electronics field was when they saw the influential power of technology in the form of microprocessor ‘Intel 4004.’ This single chip was available in the market in 1970 which is exactly 6 years before the start-up of Vtech.
Initially, they (Stephen Leung and Allan Wong) invested a sum of US$40,000 & started working for their dreams with a staff of around 40 people. Their major focus area was video games, the latest version of Pong, TV game consoles, with which, the market of Europe and North America was completely flooded with a series of Vtech products.
After witnessing a rapid success, Vtech came up with a range of LED games which left the world astonished. This made them capable and confident enough to continue making their business more of a brand name. Resulting, they took part in the New York Toy Fair and exhibited an impressive range of toys which soon gave a skyrocketing success. Since then, Vtech is not just a business but have become a brand name.
Why is Vtech superior?
The last 10 years of Vtech has proved to be a great success for the business. This all became possible with the series of product they launched in this one decade. All these factors have made Vtech a renowned brand, in terms of electronic products and games.