Founded in 1903, TELEFUNKEN has been synonymous with the art of German engineering in consumer electronics, telecommunication, domestic appliances, and innovative products in various industries. The invention of many landmark products such as PAL color television, the first TV camera, and numerous others are attributed to the brand. Based on its excellent brand image and high brand awareness in most markets around the world (e.g. 60 - 90% in most European markets), TELEFUNKEN initiated a global licensing program in 2008. Key licensed product categories include TV, audio, video, smartphones, tablets, security, and small and major domestic appliances, among others. TELEFUNKEN licensees generate approx. $0.5bn in retail sales annually with TELEFUNKEN branded products.