 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 2010, the electronics division of Beko renamed itself Grundig Elektronik A.Ş.At the Extraordinary General Shareholders Meeting of Arçelik A.Ş.