Vestel

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 Elektronik Sanayi Ve Ticaret A.Ş.

Company type	Anonim Şirket
Traded as	BİST: VESTL
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

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

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