Max Grundig

Grundig was raised by his parents in Nuremberg where he delayed his final school exams (Abitur) and completed training as an electrician.

Grundig built his company up after World War II to become a market leader in home entertainment products and a symbol of West Germany's Wirtschaftswunder.

It was only in the late 1970s that it began to lose some of its market share as it came under increasing pressure from lower-priced Japanese products, and in 1980 the company recorded its first losses.

Grundig's answer to the Asian competition was to form EURO, a common front of European manufacturers.

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