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The Vestel Group has been the leader in Turkey's consumer electronics sector since the foundation of Vestel Electronics in 1984. In the following years, the Group expanded its operations into television components, personal computers, PC monitors and white goods.
After nearly a decade of rapid growth, the Vestel Group suffered a brief period of decline under its previous owner in the early 1990s. This situation has rapidly reversed after acquisition by the Zorlu Group in 1994. The Zorlu Group has invested in new capital resources, experienced and entrepreneurial management team, and brought into Vestel and a new focus on quality and customer satisfaction.
Between 1995 and 1997, the Zorlu Group invested more than US$ 40 million in expanding and modernising the Vestel Group's capacity and business organisation. During the same period, the Vestel Group raised it consolidated net sales and exports by 148% and 190% respectively in US$ terms, and its after tax earnings by more than 500%. The Vestel Group's rapid recovery reflects its majority shareholders' commitment to unconditional customer satisfaction through new and improved products, a variety of product features, and competitive prices. It also reflects the far-sighted manufacturing strategies of its management team.
Today, the Vestel Group is comprised of seventeen companies operating in manufacturing, technology development, marketing, and distribution fields in the consumer electronics, digital technologies, and white goods. The Group's products include; LCD TVs, Plasma TVs, conventional TVs, IDTVs, digital terrestrial and satellite receivers, notebooks, wireless products, built-in and freestanding refrigerators, air conditioners, washing machines, and cooking appliances. The product groups are differentiated in order to provide customers a wide selection range.
Vestel's strategy is quality, innovation, and fast delivery. To support this, the Group has been continually investing in new technologies, increasing its capacity and expanding its production flexibility. At the same time, it has been pursuing vertical and horizontal integration to enhance control over final quality of its products and to optimise scales of production. This strategy has enabled Vestel to secure its position as a first class OEM Company, meeting a wide range of specialised needs and ensuring consistent high quality products.
Vestel's research and design teams are the first in Turkey to develop proprietary product designs and Vestel is the only developer of micro-controller software for use in its production processes. In order to follow up the new technologies, the Group established Vestel USA in 1998, and acquired Cabot Communications in the UK, which develops and offers broadcast TV technology solutions.
Subsidiary companies of the Group located in various countries in Europe play an important role in penetrating the European market and expanding Vestel's export markets.
Vestel is the export leader of Turkey with revenues of over € 2.2 billion. This revenue stream combined with the Group's rapid growth in international markets has established Vestel as one of the worldwide consumer electronics leaders. Vestel sells its products in 103 countries including Europe, The CIS, Asia, and The Middle East, Africa, America, and Australia.
The Vestel Group has been the leader in Turkey's consumer electronics sector since the foundation of Vestel Electronics in 1984. In the following years, the Group expanded its operations into television components, personal computers, PC monitors and white goods.
After nearly a decade of rapid growth, the Vestel Group suffered a brief period of decline under its previous owner in the early 1990s. This situation has rapidly reversed after acquisition by the Zorlu Group in 1994. The Zorlu Group has invested in new capital resources, experienced and entrepreneurial management team, and brought into Vestel and a new focus on quality and customer satisfaction.
Between 1995 and 1997, the Zorlu Group invested more than US$ 40 million in expanding and modernising the Vestel Group's capacity and business organisation. During the same period, the Vestel Group raised it consolidated net sales and exports by 148% and 190% respectively in US$ terms, and its after tax earnings by more than 500%. The Vestel Group's rapid recovery reflects its majority shareholders' commitment to unconditional customer satisfaction through new and improved products, a variety of product features, and competitive prices. It also reflects the far-sighted manufacturing strategies of its management team.
Today, the Vestel Group is comprised of seventeen companies operating in manufacturing, technology development, marketing, and distribution fields in the consumer electronics, digital technologies, and white goods. The Group's products include; LCD TVs, Plasma TVs, conventional TVs, IDTVs, digital terrestrial and satellite receivers, notebooks, wireless products, built-in and freestanding refrigerators, air conditioners, washing machines, and cooking appliances. The product groups are differentiated in order to provide customers a wide selection range.
Vestel's strategy is quality, innovation, and fast delivery. To support this, the Group has been continually investing in new technologies, increasing its capacity and expanding its production flexibility. At the same time, it has been pursuing vertical and horizontal integration to enhance control over final quality of its products and to optimise scales of production. This strategy has enabled Vestel to secure its position as a first class OEM Company, meeting a wide range of specialised needs and ensuring consistent high quality products.
Vestel's research and design teams are the first in Turkey to develop proprietary product designs and Vestel is the only developer of micro-controller software for use in its production processes. In order to follow up the new technologies, the Group established Vestel USA in 1998, and acquired Cabot Communications in the UK, which develops and offers broadcast TV technology solutions.
Subsidiary companies of the Group located in various countries in Europe play an important role in penetrating the European market and expanding Vestel's export markets.
Vestel is the export leader of Turkey with revenues of over € 2.2 billion. This revenue stream combined with the Group's rapid growth in international markets has established Vestel as one of the worldwide consumer electronics leaders. Vestel sells its products in 103 countries including Europe, The CIS, Asia, and The Middle East, Africa, America, and Australia.
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