The Vestel Group comprises 24 companies, 16 of which are overseas. Key business areas include home appliances, consumer and automotive electronics, 5G infrastructure, battery technology, artificial intelligence and health care.
“We are expanding beyond Europe with our customer-focused approach and innovative designs and see opportunities for growth in Japan and other Asian markets,” shared Turan Erdogan, Vestel’s chief executive officer.
“We have increased our presence in Asia by almost 200% in the last three years, and we aim to reach more households by working closely with local partners,” Erdogan said.
“We address the demand for affordable high-quality products by delivering cutting-edge technologies, such as our interactive flat-panel displays used for educational purposes in Vietnam and digital signage and display products for Japanese brands.”
The success of Vestel’s export business is underpinned by strong partnerships with leading Japanese technology brands.
In 2014, Vestel signed a European brand licensing agreement with Sharp Corp. that covered the entire development chain from manufacturing to sales and marketing. In 2016, the company signed a brand licensing agreement with Toshiba, boosting the growth of its smart TV business.
“Guided by our Akilli Hayat (Smart Life) 2030 Vision, we are delivering smart technologies and sustainable solutions which are driving digital transformation and contributing to our global competitiveness,” Erdogan said.
Vestel’s 20,000 employees include 1,800 research and development engineers, and they are helping to transform industries by delivering technologies and products. Every year, Vestel allocates 2% of its revenue to research and development, making the company one of the highest-spending R&D companies in Turkey.
Last year, Vestel filed the highest number of European patents among Turkish companies and was awarded the title of Best R&D Center by Turkey’s Ministry of Industry and Technology.
“Our goal is to use the power of technology to facilitate human-oriented transformations across entire value chains,” Edrogan noted.
“We aim to adopt regenerative business models and create a circular economy to transform Vestel into a net-zero emissions company. We deliver solutions which meet future needs while creating environmental and social benefits.”