Vestel

Turkey's armed drones, or unmanned aerial vehicles (UAVs), have been tested by the Hungarian army, local newspaper Magyar Nemzet reported on Nov. 12.

The news report said the KARAYEL-SU armed drone developed by Vestel Defense was photographed both on land and in the air at the Hungarian Armed Forces' Papa Air Base.

Accounting for half of the top 10 companies, automotive firms have dominated Turkey's list of largest exporters, the Turkish Exporters Assembly (TİM) announced on Sept. 18.

Ford was named Turkey's largest exporter in 2020, followed by Toyota Engine Manufacturing Turkey and Oyak Renault.

Turkey's home appliance sales and exports soared in the first quarter of this year, according to a sectoral group head.

"In January-March, our sales and exports increased 40 percent and 26 percent, respectively, compared to the same period last year," said Can Dinçer, head of the White Goods Manufacturers' Association of Turkey (TÜRKBESD) on April 20.

Turkish President Recep Tayyip Erdoğan said on March 16 that Saudi Arabia has requested a supply of Turkish military drones.

But Erdoğan also voiced his displeasure at the kingdom's decision to conduct join air exercises with Turkey's longstanding rival Greece, suggesting that an agreement on drones depended on Riyadh's future conduct.

Turkey's most technology-savvy brands in the main 23 sectors have been selected through a survey conducted in 12 provinces including the commercial hub İstanbul, the capital Ankara, the Aegean province of İzmir, the Black Sea province of Samsun and the southeastern industrial city of Gaziantep.

Turkey's Vestel has said it won a tender to provide flight information display system at Istanbul's third airport for a one-year period. 

Turkish electronics and appliance maker Vestel announced on April 10 that it was beginning talks to purchase the television unit of Japan's Toshiba Corp. following a report by Japan's Nikkei, but said it was unclear whether the deal would be finalized at the current juncture.

Toshiba, which sold the first Japan-made color television in 1960, now appears to want to sell its TV business.

Some foreign buyers are said to be showing interest in taking over the unit, according to people familiar with the matter.

Potential bidders include Turkish home-appliance maker Vestel and a few Chinese rivals.

The Turkish government has cut special consumption taxes on a number of electronic home appliances and has extended value-added tax (VAT) cuts on property acquisitions, in a bid to revive domestic demand ahead of a key constitutional referendum, which is expected to be held in April. 

Turkey's Vestel Home Appliances has announced new investment works to establish a new washing machine and drier factory in the Aegean province of Manisa for around 70 million euros. 

The company said in a Dec. 27 statement to the Public Disclosure Platform (KAP) that it was conducting talks with lenders and financial institutions to secure the required financing.