GN Store Nord facts for kids
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| Public | |
| Traded as | OMX: GN |
| Industry | Electronics |
| Founded | 1869 |
| Founder | Carl Frederik Tietgen |
| Headquarters | Ballerup, Denmark |
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Key people
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| Products | Headsets, hearing instruments |
| Revenue | DKK 15,775 million (2021) |
| Total assets | DKK 23,552 million (2021) |
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Number of employees
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7,228 (2021) |
| Subsidiaries |
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GN Store Nord A/S is a company from Denmark. They make cool electronics like hearing aids, headsets, and even video devices. You might know their brands like Jabra and SteelSeries. They are a big company listed on the stock exchange in Copenhagen.
Contents
History of GN Store Nord
The Great Northern Telegraph Company
The company started in Denmark in June 1869. It was first called The Great Northern Telegraph Company. A smart businessman named Carl Frederik Tietgen brought together three smaller telegraph companies. Their big goal was to create a telegraph network that would reach all over the world!
The Great Northern Telegraph Company began with a special deal. In 1869, C.F. Tietgen made an agreement with the Russian Tzar. This deal gave the company the only right to build and run a telegraph line in Russia. This was a huge and new challenge for the company. They wanted to connect Europe all the way to the Far East.
Russian officials helped build the lines in Russia. They had already started a telegraph line in parts of Siberia. But they needed a partner to connect to China and Japan. Then, the Russian line could continue to Vladivostok. So, The Great Northern Telegraph Company took on the job. They built and ran their own telegraph lines in Asia. They also helped the Russians with how to use, fix, and understand the new technology. A naval officer named Edouard Suenson led the company's work in the Far East. He later became the CEO in Copenhagen in 1877.
In the years that followed, the telegraph network grew a lot. It expanded in both Europe and Asia. First, cities like Oslo, London, and Paris were connected. Later, the lines went along the coast of China. They stretched from Hong Kong to Shanghai. Then, they went further into Japan. The first telegraph station there opened in Nagasaki in 1897. Besides the telegraph lines, many telegraph stations and offices opened up.
In 1897, talks began about a new connection. This one would go from Scotland to the United States. It would pass through the Faroe Islands, Iceland, and Greenland. In 1906, this cable was built. But the final connection to the United States had to wait. It took almost 60 more years to happen. When the transatlantic connection was finally made, it was amazing! It made talking to people around the world much easier.
The early 1900s had many wars and disagreements. These events affected how the company worked. World War I and the Russian Revolution changed Europe's map. But this only made people want telegraph services even more. So, the company was able to renew its agreement in 1921. Even Lenin signed it!
The 1920s and early 1930s were great years for the company. The Great Northern Telegraph Company became known as a top international communication company. However, the late 1930s brought big problems. New wireless telegraphy was becoming a strong competitor. Also, World War II badly damaged telegraph lines worldwide. By 1945, the company had only two lines left. One went from England to the Faroe Islands and Iceland. The other went from Sweden to Finland. Even though broken lines were fixed after the war, the company knew an era was ending.
So, the company decided on a new plan. They would invest in different types of companies. This new plan started in 1939. They invested in a battery factory called Hellesens. Over the next few decades, the company invested in both communication and other industries. They bought companies like Lauritz Knudsen, which made electrical goods. In 1947, they started Storno. This company made radio telephones. They also bought Telematic (telephones), Elmi (measuring tools), and Danavox (hearing aids).
GN Store Nord Today
In 1985, The Great Northern Telegraph Company changed its name. It became GN Store Nord. GN stands for Great Nordic. The goal was to create a new group identity. All the smaller companies under it were renamed to include "GN." For example, GN Danavox and GN NetTest. A big change happened in 1991. GN got a special license for a new mobile phone network in Denmark. In March 1992, GN's new company, Sonofon, opened the first private mobile phone network in Denmark. GN owned most of Sonofon's shares.
With the rise of data and phone communication, GN became very successful. This was in the late 1990s. In 2000, the company sold Sonofon to a Norwegian company called Telenor. They sold it for a lot of money. A large part of this money was invested in GN NetTest. This company made testing equipment. GN thought NetTest would be its main business. They decided to buy a French company called Photonetics for a huge amount. People were very hopeful about the future. The company's share price grew five times in just one year! In the same year, they also bought the American company Jabra Corporation.
However, focusing so much on NetTest led to a big problem. GN had misjudged how the market for NetTest's products would grow. In 2001, the company lost a lot of money. The share price dropped back to where it was before. This meant much of the money from selling Sonofon was lost quickly. Shareholders were very angry.
The next few years were difficult. The company sold most of its smaller businesses. They also left their old headquarters in Copenhagen. Today, GN Store Nord's main office is in Ballerup, north of Copenhagen. GN decided to focus on its two main businesses: hearing aids and headsets. These are made by GN Hearing and GN Audio.
In 2006, GN planned to sell GN Hearing and GN Otometrics. But a German office blocked the deal. So, GN decided to keep the companies. They also fought the court's decision. This situation left GN in a very tough spot. They had two businesses that weren't doing well. They also had a lot of debt. But with a lot of hard work and changes, the company managed to survive. Since then, GN has slowly gotten back on track.
In 2009, GN Audio decided to sell all its products under one brand: Jabra. GN had bought Jabra in 2000. The goal was to become the world's top supplier of headsets. Today, GN Audio is a world leader in headsets for business communication. In recent years, they have launched many new products. In 2014, they released the world's first sports headset with a heart rate monitor. They also made special noise-canceling headsets. These help people focus in noisy open offices.
GN Hearing also improved. In 2010, they launched the world's first hearing aid with 2.4 GHz wireless technology. This was a big step forward! In 2014, GN Hearing changed the industry again. They introduced the world's first Made for iPhone hearing aid. This hearing aid uses 2.4 GHz technology. It lets you stream sound directly from an iPhone without needing extra devices.
In October 2016, GN Audio bought VXi Corporation. This company makes the VXi and BlueParrott headset brands.
What GN Store Nord Does Today
Today, the GN Group includes GN Store Nord A/S, GN Hearing A/S, and GN Audio A/S. GN creates and makes smart hearing, audio, video, and gaming products. GN's products are sold under brands like ReSound, Jabra, SteelSeries, Beltone, Interton, Danavox, and FalCom. You can find their products in over 100 countries around the world.
55°44′19″N 12°23′12″E / 55.73861°N 12.38667°E
