Products from Beko
Beko Elektronik A.Ş. was founded by Vehbi Koç, the founder of Koç Holding (who also founded Arçelik A.Ş., the parent company of Beko, in 1955), and Leon Bejerano in Istanbul, Turkey, 1967. The company's name is a combination of the first two letters of the founders' surnames.
In 2004, Beko Elektronik purchased the German electronics company Grundig and by January 2005, Beko and its rival Turkish electronics and white goods brand Vestel accounted for more than half of all TV sets manufactured in Europe.
In April 2008, the electronics division of Beko renamed itself Grundig Elektronik A.Ş.
At the Extraordinary General Shareholders Meeting of Arçelik A.Ş. on 29 June 2009, it was decided to merge Arçelik A.Ş. with the company's subsidiary, Grundig Elektronik A.Ş. (to be administered directly by Arçelik A.Ş. of Koç Holding) by taking over all of Grundig's assets and liabilities as a whole.
Beko is a budget brand name in some countries and continues to be in use for a number of Arçelik A.Ş. products such as television sets, refrigerators, washing machines and dishwashers, in several countries.