(Article below is translated from a Norwegian news message of 1998)

Problems for Grundig

It is dire straits for Grundig. The Europe-division operates with severe losses, and Philips (owning nearly a third of the company) is considering to pull out. Philips is having a bad time of their own. The North- American division of Grundig is turning out a healthy profit. For instance the direct sales/Postal order business is very good.

Grundig Satellit 900, meant to replace the Satellit 700 ,has been put on hold indefinitely. One of the reasons supposedly being that a vital data- chip essential to the construction of the radio is no longer in production. As a consequence, the design and construction of the set must be altered if it is ever going to materialize into anything.

Media Network 16.1/1998