Vestel is a Turkish home and professional appliances manufacturing company consisting of 18 companies specialised in electronics,[2] major appliances and information technology. Vestel's headquarters and production plant are located in Manisa, while since 1994 the company's parent conglomerate is the Istanbul based Zorlu Holding.[3]
 | |
| Company type | Anonim Şirket |
|---|---|
| BİST: VESTL | |
| Industry | Consumer Electronics, Home Appliances, Information Technology |
| Founded | 1984 |
| Headquarters | Manisa, Turkey |
Area served | Europe, Middle East, Central Asia |
Key people | Ahmet Nazif Zorlu (Chairman) Ergun Guler (CEO) |
| Products | Televisions, major appliances, digital signage displays, smartphones |
| Revenue |  US$3.90 billion (2023)[1] |
| US$265 million (2023) | |
| US$80 million (2023) | |
| Total assets | US$4.36 billion (2023) |
| Total equity | US$1.42 billion (2023) |
Number of employees | 20,438 |
| Parent | Zorlu Holding |
| Website | [1] |
Vestel, together with its subsidiary brands has a significant share in the European market of consumer electronics and home appliances, in particular TV sets.[4] As of 2006, Vestel was the largest TV producer in Europe with more than 8 million units sold, accounting for a quarter of the European market.[4] Vestel also has a subsidiary brand Vestfrost, used for white goods, and Luxor, used for televisions, sold in the Nordic countries. In 2014, Vestel entered the smartphone market.[5]
Most TVs produced by Vestel are sold under licensed brand names such as Toshiba,[6] Hitachi, Polaroid, JVC, Bush, Alba, Finlux and many own brand labels.
History
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Vestel was founded in 1984 and acquired by Zorlu Group in 1994.[7]
See also
editReferences
edit- ^ "Annual Report 2023" (PDF). www.vestelyatirimciiliskileri.com.
- ^ "Vestel founds e-mobility division and announces MCS charger". electrive.com. Retrieved 2024-11-04.
- ^ "History | Zorlu". www.zorlu.com.tr. Retrieved 2024-11-04.
- ^ a b Businessweek: "The Unknown TV Giant" Archived January 30, 2012, at the Wayback Machine
- ^ "Turkish company launches new model smartphone - Latest News". Hürriyet Daily News. 2015-11-17. Retrieved 2024-11-04.
- ^ "Vestel Ticaret signs brand license agreement with Toshiba Visual". Reuters. 1 September 2016. Retrieved 2024-11-04.
- ^ "Vestel Group Corporate Profile > About Us > Home > Vestel Investor Relations". www.vestelinvestorrelations.com. Retrieved 2024-09-19.