|Defunct||April 2003, since then a trademark of Koç Holding|
|Revenue||€ 300 million (2003)|
Number of employees
Grundig AG (German pronunciation: [ˈgʁʊn.dɪç ʔaː geː]) is a German full range manufacturer of White Goods, Personal Care Products and Home Electronics. Established in 1930 in Nuremberg by Max Grundig, the company now forms part of the large corporation Koç Holding group. In 2007, after buying control of the Grundig brand, Koç Holding renamed its Beko Elektronik white goods and consumer electronics division Grundig Elektronik A.Ş., which has decided to merge with Arçelik A.Ş. as declared on February 27, 2009.
The company began in 1930 with the establishment of a store named Fürth, Grundig & Wurzer (RVF), which sold radios. After the Second World War Max Grundig recognized the need for radios in Germany, and in 1947 produced a kit, while a factory and administration centre were built at Fürth. In 1951 the first television sets were manufactured at the new facility. At the time Grundig was the largest radio manufacturer in Europe. Divisions in Nuremberg, Frankfurt and Karlsruhe were established.
Grundig in Belfast
A plant was opened in 1960 to manufacture tape recorders in Belfast, Northern Ireland, the first production by Grundig outside Germany. The managing director of the plant Thomas Niedermayer, was kidnapped and later killed by the Provisional IRA in December 1973. The factory was closed with the loss of around 1000 jobs in 1980.
In 1972, Grundig GmbH became Grundig AG. After this Philips began to gradually accumulate shares in the company over the years, and assumed complete economic control in 1993. Grundig pulled out of this partnership in 1998 owing to unsatisfactory performance and a decline in Philips consumer electronics presence around the world.
At the end of June 2000 the company relocated its headquarters in Fürth and Nuremberg. Grundig 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 Britain's Alba plc and the Turkish Koç's Beko jointly took over Grundig Home InterMedia System, Grundig's consumer electronics division. In 2007 Alba sold its half of the business to Koç for US$50.3 million, although it retained the license to use the Grundig brand in the UK until 2010, and in Australasia until 2012.
In the United States, products marketed under the Grundig brand are manufactured by the Eton Corporation (formerly Lextronix), based in Palo Alto, California. Spain's Grupo Vitelcom is licensed to manufacture mobile telephones using the Grundig Mobile brand, and auto parts company Delphi manufactures car radios branded Grundig.
Today, Grundig Intermedia GmbH is one of the world’s leading suppliers of entertainment electronics and household appliances. Since 2007, Grundig Intermedia GmbH has been part of Arcelik A.S., one of the leading companies within the listed Koç-Group, a conglomerate active throughout the world and one of the largest corporations worldwide. At its Headquarters in Nuremberg, Germany Grundig Intermedia employs about 140 people working in Marketing, Sales, Product and Quality Management, Design and Service. Worldwide, the Grundig brand employs an additional 1,600 people in production, R+D and Sales. The company has its roots in the traditional German company Grundig AG, which in its time was famous around the world for radios and televisions. Grundig Intermedia assumed responsibility for the core activity of entertainment technology and then expanded this with small and large household appliances. Today the company is organised into three product groups – Consumer Electronics, small domestic appliances and large household appliances. Its portfolio includes products ranging from MP3 players, to 65-inch 3D LED televisions, to hair styling devices, vacuum cleaners and kitchen machines as well as ovens, dishwashers and washing machines. Grundig has been the first, official technology partner of the German Bundesliga since 2011.
- History, Grundig Elektronik corporate website, undated.Accessed:11-10-2008.
- Arçelik A.Ş.: Brands
- Arcelik and Grundig to merge, Reuters. Accessed on April 9, 2009
- British Retailer Alba Sells Stake in Grundig, Appliance Magazine, Los Angeles, CA, 12-19-2007.Accessed:11-10-2008.
- CORRECTION Alba sells Grundig Multimedia interest to JV partner Beko, Thomson Financial for Yahoo, 12-18-2007.Accessed:11-10-2008.
- Grundig U900 Single Core Linux-Based Cellphone Looks Like It Belongs in 2002, Gizmodo gadget blog, 02-27-2007.Accessed:11-10-2008.
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