VTech
 |
|
| Public company | |
| Traded as | : 0303 |
| Industry | Electronics industry |
| Founded | October 1976 |
| Headquarters | Hong Kong |
|
Area served
|
Worldwide |
| Products | Residential phones Educational toys Electronic manufacturing services Small to medium sized business phones Hotel phones Cordless headsets Integrated access device Baby monitor |
| Revenue | US$1,898.9 million (FY2014) |
| US$203.3 million (FY2014) | |
|
Number of employees
|
Around 30,000 |
| Website | www.vtech.com |
VTech (Traditional Chinese: 偉易達) is a Hong Kong-based global supplier of electronic learning products from infancy to preschool and the world's largest manufacturer of cordless phones. It is also one of the top 50 electronic manufacturing services providers globally.
In November 2015 VTech's learning products app store, "Learning Lodge", was compromised, leading to the exposure of names, addresses, encrypted passwords and personal information of its customers, including photos and chat logs.
The company was originally named "Video Technology Limited" in reference to the company's first product, a home video game console. In 1991, it was renamed "VTech Holdings Limited" to reflect a wider portfolio of products.
The company first listed in Hong Kong in June 1986 under the name "Video Technology International (Holdings) Limited". It was privatised and delisted from in 1990.
VTech obtained a primary listing on the in 1991. In 1992, the company relisted on The Stock Exchange of Hong Kong Limited, establishing a dual primary listing with London. In 1993, the company established its American depositary receipt programme.
VTech delisted voluntarily from the London Stock Exchange on 7 October 2008. It also terminated its American Depositary Receipt programme with effect from 21 January 2011.
VTech was founded in Hong Kong in October 1976 by two local entrepreneurs, Allan Wong and Stephen Leung. When the first single-chip microprocessor "Intel 4004" became available in the early 1970s, the company saw the potential it offered for portable consumer electronics products. Wong & Leung set up a small factory in To Kwa Wan, with a US$40,000 investment and a staff of 40 people. In the first year, turnover was less than US$1 million.
VTech initially focused on developing video games. In 1977, the company created its first home TV game console, a version of Pong. Since only consumers in North America and Europe could afford such items, the company targeted primarily these markets.
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Wikipedia