Vestel

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Vestel Elektronik Sanayi Ve Ticaret A.Ş.
Company typeAnonim Şirket
BİST: VESTL
IndustryConsumer Electronics, Home Appliances, Information Technology
Founded1984; 42 years ago (1984)
HeadquartersManisa, Turkey
Area served
Europe, Middle East, Central Asia and United States
Key people
Ahmet Nazif Zorlu (Chairman)
Ergün Güler CEO)
ProductsTelevisions, major appliances, digital signage displays and smartphones
Brands
RevenueIncrease US$4.07 billion (2024)[1]
Increase US$265 million (2023)
Increase US$80 million (2023)
Total assetsIncrease US$4.95 billion (2024)
Total equityIncrease US$1.48 billion (2023)
Number of employees
20,438
ParentZorlu Holding
Websitevestelinternational.com

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]

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, Vortex and many own brand labels.

History

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Vestel, IFA 2018, Berlin

Vestel was founded in 1984 and acquired by Zorlu Group in 1994.[7]

See also

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References

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  4. ^ a b Businessweek: "The Unknown TV Giant" Archived January 30, 2012, at the Wayback Machine
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