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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.
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.
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.
After World War II, Blaupunkt moved its headquarters and production to Hildesheim. Blaupunkt took over a former Philips/Grundig factory in Portugal to produce automotive head units. It is still owned and operated by Bosch, used exclusively to make OEM units for car manufacturers and 24V (e.g., Coach) AV equipment.
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
AEG (German company), Allgemeine Elektricitäts-Gesellschaft ("General Electricity Company"), former German electrical manufacturer AEG (brand), licensed by Electrolux to several companies for a variety of products; Anschutz Entertainment Group, an American entertainment company
The company name Hotpoint comes from the hot point of the innovative first electric iron. Invented by American, Earl Richardson (1871–1934) in 1905, he subsequently formed his Pacific Electric Heating Co. in Ontario, California, in 1906. [2] [3] The device became known as the Hotpoint iron, with its hottest point at the front and not the center.