vestel

Vestel Elektronik Sanayi Ve Ticaret A.Ş.

Type| Anonim Şirket

Traded as

| Template:Imkb
Industry| Consumer Electronics, Home Appliances, Information Technology
Founded| 1984
Headquarters| Manisa, Turkey

Area served

| Europe, Middle East, Central Asia, United States

Key people

| Ahmet Nazif Zorlu (Chairman)
Ergün Güler (CEO)
Products| Televisions, major appliances, digital signage displays, smartphones
Brands|

* Hitachi
* Polaroid
* JVC
* Bush
* Alba
* Finlux
* Vortex

Revenue|  US$4.07 billion (2024)[1]

Operating income

|  US$265 million (2023)

Net income

|  US$80 million (2023)
Total assets|  US$4.95 billion (2024)
Total equity|  US$1.48 billion (2023)

Number of employees

| 20,438
Parent| Zorlu Holding
Website| [1]

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.

## Contents

* 1 History
* 2 See also
* 3 References
* 4 External links

## History

Vestel, IFA 2018, Berlin

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

## See also

* Zorlu Holding
* List of companies of Turkey

## References

1. ↑ "Annual Report 2023". http://www.vestelyatirimciiliskileri.com/_assets/pdf/faliyet/2023/vestel_faaliyet_raporu_2023.pdf.
2. ↑ "Vestel founds e-mobility division and announces MCS charger" (in en-US). https://www.electrive.com/2024/09/20/vestel-founds-e-mobility-division-and-announces-mcs-charger/.
3. ↑ "History | Zorlu". https://www.zorlu.com.tr/en/corporate/history.
4. ↑ 4.0 4.1 Businessweek: "The Unknown TV Giant"
5. ↑ "Turkish company launches new model smartphone - Latest News" (in en). 2015-11-17. https://www.hurriyetdailynews.com/turkish-company-launches-new-model-smartphone-91274.
6. ↑ "Vestel Ticaret signs brand license agreement with Toshiba Visual". 1 September 2016. https://www.reuters.com/article/technology/vestel-ticaret-signs-brand-license-agreement-with-toshiba-visual-idUSFWN1BD08V/.
7. ↑ "Vestel Group Corporate Profile > About Us > Home > Vestel Investor Relations". http://www.vestelinvestorrelations.com/en/about-us/vestel-group-corporate.aspx.

## External links

* Official website

Template:Istanbul Stock Exchange companies Template:Home appliance brands

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