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At the end of June 2000 Grundig relocated its headquarters in Fürth to Nuremberg-Langwasser. The company had a turnover of €1.281 billion the following year. In autumn 2002, Grundig's banks did not extend the company's lines of credit, leaving the company with an April 2003 deadline to announce insolvency. Grundig AG declared bankruptcy in 2003.
In 2004, Arçelik acquired German TV and home appliance maker Grundig in a partnership with Alba plc. In 2007, Arçelik became the sole-owner of the Grundig Multimedia B.V. and its eponymous brand. [17] [18] To increase brand recognition, Beko became the sponsor of Watford F.C. during the 2007-2008 and the 2008–2009 seasons.
In 1930, Grundig and a colleague opened a store selling radios under the name Fürth, Grundig & Wurzer (RVF), generating one million Reichsmark in sales by 1938. After World War II, business expanded with a successful range of consumer electronics. In 1972, the company became a corporation and was sold to Philips in 1984.
The company's name is a combination of the first two letters of the founders' surnames, Bejerano and Koç. In 2004, Beko Elektronik purchased the German electronics company Grundig and by January 2005, Beko and its rival, Turkish electronics and white goods brand Vestel, accounted for more than half of all TV sets manufactured in Europe. [3]
The Alba Group later also consisted of further acquired brands Goodmans, Grundig, and home appliance brands such as Breville and Dirt Devil. The Alba Group was bought by the Home Retail Group, the parent company of the retailer Argos in 2008, who in turn was taken over by J Sainsbury plc in 2016. [1]
The company began in 1954 with the Stenorette A, the first Grundig dictation machine on the market. The Steno-Cassette 30, developed by Grundig in 1983, became the DIN standard. In association with a consortium project of the International Voice Association, the .dss Digital Speech Standard was developed by Grundig in
The massive and empty hotel property went to sheriff's sale in June.
Harman International Industries, Inc., commonly known as Harman, is an American audio electronics company. [3] Since 2017, the company has been operating as an independent subsidiary of Samsung Electronics. [4] Headquartered in Stamford, Connecticut, US, it has its own executive leadership team. [5]