Everything about Grundig totally explained
Grundig AG is a
German manufacturer of
consumer electronics for home entertainment.
Max Grundig established the company in
Nuremberg in
1945, shortly after
World War II.
The history of the company began in
1930 with the establishment of a store named Fuerth, Grundig & Wurzer (RVF), which sold radios. After World War II Max Grundig recognized the need in Germany for radios and in
1947 produced a kit, while a factory and administration centre were under construction at
Fürth. In
1951 the first televisions were manufactured at the new facility with the company and the surrounding area growing rapidly. At the time Grundig was the largest radio manufacturer in Europe. Divisions in Nuremberg,
Frankfurt and
Karlsruhe were set up. In
1960 tape recorders were manufactured in
Belfast,
Northern Ireland, the first production by Grundig outside Germany.
In
1972, Grundig
GmbH became Grundig
AG. After this
Philips began to gradually accumulate
shares in the company over the course of many years until assuming complete control in
1993. Philips resold it to a
Bavarian consortium in
1998 due to unsatisfactory performance.
At the end of June
2000 the company relocated its
headquarters in Fürth and
Nuremberg, and Grundig took a loss of €1.281 million the following year. In the
autumn of
2002, Grundig's banks didn't extend the company's lines of
credit, leaving the company with an April
2003 deadline to announce
insolvency. Grundig AG declared
bankruptcy in
2003, selling its satellite equipment division to
Thomson. In
2004, England's
Alba plc and Turkey's
Beko Elektronik jointly
took over Grundig Home InterMedia System (HIS), Grundig's consumer electronics division.
Currently, the British
Alba/
Beko consortium retain control of Grundig, although in the
United States, products marketed under the Grundig
brand are manufactured by the
Eton Corporation (formerly
Lextronix), based in
Palo Alto, California.
Vitelcom of Spain are also licensed to manufacture mobile telephones using the Grundig Mobile brand. Also, the auto parts company
Delphi now manufactures car radios under the Grundig name.
In 2007 Grundig Mobile announced a
Linux powered cell phone called U900.
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