Sony UK Taps Grundig for Two BRAVIA LCD TV Models

Sony UK Ltd. made an agreement with Grundig Elektronik AS to manufacture two BRAVIA LCD TV models. Grundig made the announcement that it had signed a letter of intent on December 26 in a filing with the Instanbul Stock Exchange. Sony will be selling the two BRAVIA LCD TV models starting from 2009. Grundig, a Koc Holding’s subsidiary and formerly Beko Elektronik, is a Turkish TV manufacturer. Grundig AG, established in 1945, is a German manufacturer of consumer electronics under Turkish control. After purchasing a controling stake of the Grundig brand in 2007, Koc Holding Group renamed Beko Elektronik to Grundig Elektronik.

Just a few days earlier on December 22 Grundig fired 25% of its workforce (432 staff) and announced that it will stop manufacturing CRT-based TV sets. Grundig’s largest shareholder is Arcelik. Arcelik’s largest shareholder is Koc Holding. In 2007, Grundig had 3.4 million units in LCD TV sales with almost all of them exported to Europe.

Source: Bloomberg, Reuters

[tags]Sony, Grundig, Sony UK, Grundig Elektronik, BRAVIA, BRAVIA LCD TV[/tags]

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