Grundig is a home appliances and consumer electronics brand.[1] It is owned by Arçelik A.Ş., the white goods (major appliance) manufacturer of Turkish conglomerate Koç Holding. Originally a German consumer electronics company, Grundig GmbH was founded in 1945 by Max Grundig and was headquartered for the most part in Fürth until its insolvency in 2003.
The Grundig company helped fuel the post-war economic miracle of West Germany and it grew to become one of the leading manufacturers in the world of radio, TV, recording and other electronic equipment in the following decades. In the 1970s, Philips began acquiring Grundig's shares, leading to complete control in 1993, but Philips divested Grundig by 1998. Grundig filed for bankruptcy in April 2003 after years of losses and strong competition from cheaper Asian competitors.[2][3]