Beko Elektronik A.S. was founded by Vehbi Koç, the founder of Koç Holding (who also founded Arçelik A.S., the parent company of Beko, in 1955), and Leon Bejerano in Istanbul, Turkey, 1954. 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. Beko is a budget brand name in some countries and continues to be in use for a number of Arçelik A.S. products such as television sets, refrigerators, washing machines and dishwashers, in several countries. Beko started selling its products in Egypt in 2014, where it is gaining popularity and more market share.Over the past two decades, Beko focused on innovation to make their customers’ lives more convenient and healthier. The ease of use and practical technologies of the products has made it the fastest growing brand in the European market. Beko has been in US market for more than four years and they innovate products for supporting their customers wellbeing, whether it’s keeping the food fresh for longer time or putting the beautiful design & quality within reach.