Western Electric Company Inc.
- Ticker:
- NOK
- Share price:
- $3.33 (mkt close, Apr. 12, 2024)
- Market cap:
- $18.76 bil.
- Annual revenue:
- $22.26 bil.
- Earnings per share (prev. year):
- $0.3
- Sector:
- Manufacturing
- Industry:
- Wireless Equipment
- CEO:
- Pekka Lundmark
Western Electric Company Inc., American telecommunications manufacturer that throughout most of its history was under the control of the American Telephone and Telegraph Company (AT&T). It was the major manufacturer of a broad range of telephone equipment: telephones, wires and cables, electronic devices and circuits, power equipment, transmission systems, communications satellites, and so on. It was also a prime defense contractor for such products as radar, aerospace guidance and communications systems, missile systems, and nuclear weapons.
The company was founded in Cleveland, Ohio, in 1869 as an electric-equipment shop under the name of Gray & Barton. In the same year, the founders, Elisha Gray and Enos N. Barton, moved the firm to Chicago. By 1872, when it was incorporated as the Western Electric Manufacturing Company, it was beginning its successful career of manufacturing a number of new inventions, including the world’s first commercial typewriters and incandescent lamps.
In 1878–79, when Western Union and Bell Telephone were battling in and out of court for control of the burgeoning telephone industry, Western Electric was Western Union’s major ally and supplier. But in 1881, after winning the patent war, Bell Telephone bought a controlling interest in Western Electric. In the following year the company was reincorporated as Western Electric Company and became a part of the Bell company that came to be known as AT&T. The company was dissolved as a separate subsidiary in 1983 with the breakup of AT&T, though the Western Electric brand name continued to be used by AT&T Technologies. Western Electric disappeared as a distinct brand when AT&T Technologies was restructured in 1996 as Lucent Technologies.