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In 2004 the UK's Alba plc and the Turkish Koç's Beko jointly took over Grundig Home InterMedia System, Grundig's consumer electronics division. In 2007 Alba sold its half of the business to Koç for US$50.3 million, [ 15 ] although it retained the license to use the Grundig brand in the UK until 2010, and in Australasia until 2012.
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In 1930, Grundig and a colleague opened a store selling radios under the name Fürth, Grundig & Wurzer (RVF), generating one million Reichsmark in sales by 1938. After World War II, business expanded with a successful range of consumer electronics. In 1972, the company became a corporation and was sold to Philips in 1984.
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