elko
ELKO is Iceland's largest specialist consumer electronics retailer, operating omnichannel physical stores in Reykjavik and Akureyri, a duty-free store at Keflavik Airport, and an e-commerce platform serving Icelandic consumers, travelers, and B2B customers with hardware, trade-in, and installation services.
- Company typePrivate
- Founded-
- Headquarters—
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What elko does
ELKO is a privately held Icelandic consumer electronics retailer operating physical stores across Reykjavik (Lindum, Skeifunni, and Grandi) and Akureyri, a duty-free store at Leif Eiriksson International Airport, and the elko.is e-commerce platform. The company positions itself as offering the largest selection of electronics in Iceland, spanning smartphones (Apple iPhone, Samsung Galaxy), computers, gaming consoles, home appliances, audio/video equipment, smartwatches (Garmin, Apple Watch), and accessories such as PanzerGlass screen protectors. Its technology stack centers on an integrated retail e-commerce platform paired with physical-store operations, a digital AI customer service agent, and a device trade-in valuation system, with logistics integrated through Dropp pickup points and Iceland Post.
Revenue is generated across four streams: consumer electronics retail (hardware sales to individuals), device trade-in services operated in partnership with Foxway Group (recycling and refurbishment with non-expiring credit notes), duty-free retail at Keflavik Airport (tax-free hardware sales to travelers), and a B2B unit (corporate and SMB procurement with dedicated account management, bulk pricing, and account invoicing). Go-to-market is sales-led and omnichannel, supported by content marketing (blog, flyer/catalog, email newsletter) and broad social media presence across Facebook, Instagram, LinkedIn, TikTok, YouTube, and X. Service attach includes in-store PanzerGlass On Demand installation, tiered home delivery (9,995–69,995 ISK), 30-day returns, and installation/disposal services delivered through the Herra Snjall technical partnership. In 2024 the trade-in program processed 7,539 devices and returned 20 million ISK to customers, a 17% year-over-year increase, evidencing an active circular-economy engine layered on the core retail business.
elko firmographics
Firmographics- Name
- elko
- Legal name
- ELKO
- Website
- https://elko.is
- Company type
- Private
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- ELKO is Iceland's largest specialist consumer electronics retailer, operating omnichannel physical stores in Reykjavik and Akureyri, a duty-free store at Keflavik Airport, and an e-commerce platform serving Icelandic consumers, travelers, and B2B customers with hardware, trade-in, and installation services.
- Ownership category
- akta.pro rank
elko business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D
Revenue model
- Consumer Electronics Retail: Sale of consumer electronics including smartphones, computers, home appliances, audio/video equipment, gaming products, and accessories through physical stores and e-commerce platform.
- Device Trade-in Services: Purchase of used electronic devices from customers, providing credit notes that never expire for use on future purchases. Devices are processed through Foxway Group for recycling or refurbishment.
- Duty-Free Retail: Duty-free electronics sales at Keflavik Airport terminal, serving travelers with tax-free pricing on electronics and accessories.
- B2B/Fyrirtækjaþjónusta: Business-to-business sales of electronics and appliances with dedicated account management, bulk pricing, procurement support, and corporate procurement solutions including account invoicing.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Panzerglass On Demand screen protection installation |
| Unit Pricing | Pay-as-you-go | Home delivery for large appliances |
| Unit Pricing | Pay-as-you-go | Home delivery with setup and disposal |
| Unit Pricing | Pay-as-you-go | ELKO Gift Cards |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels9 records
elko product offering
Product offeringCore offering
ELKO is Iceland's leading consumer electronics retailer operating physical stores across Reykjavik and Akureyri, an e-commerce platform (elko.is), and a duty-free store at Keflavik Airport. The company sells smartphones, computers, home appliances, audio/video equipment, gaming products, wearables, and accessories, and offers device trade-in, delivery and installation services, B2B procurement solutions, and gift cards.
Product overview
ELKO is an Icelandic electronics retailer offering a wide range of consumer electronics and appliances through physical stores across Iceland and an online e-commerce platform. The product portfolio includes smartphones (Apple iPhone, Samsung Galaxy), smartwatches and fitness trackers (Garmin, Apple Watch, Samsung Watch, Huawei), computers and laptops (including Samsung Galaxy Book), audio equipment (headphones, earbuds), gaming consoles, home appliances (refrigerators, washing machines, TVs), and various accessories (screen protectors like PanzerGlass, screen glasses, charging cables, cases). ELKO also operates a duty-free store at Keflavik Airport (ELKO KEF) and provides services including device trade-in programs, installation services through partner Herra Snall, delivery options, gift cards, extended warranties, and business-to-business (B2B) solutions. The company positions itself as having the largest selection of electronics in Iceland.
Differentiator
Problem solved
Functional benefit
Brands
- ELKO Duty Free: Duty-free shopping at Keflavik International Airport (Leifs Eiríksson Airport)
Quantifiable outcome
- 7,539 electronic devices diverted from landfill in 2024 through circular economy program
- +1 more outcomes
Companies that use elko
Customer profileSegments4 records
elko technology and API
TechnologyAPI detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
elko partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- Foxway GroupcorePartnership with Estonian-based Foxway Group for electronic device recycling and circular economy processing. Foxway handles device evaluation, refurbishment, and recycling ensuring environmental compliance with WEEE standards. ELKO's 'Eitthvað fyrir ekkert' trade-in program relies on Foxway's processing capabilities.
- Herra SnjallminorTechnical services partnership for device setup and installation services. Herra Snjall provides technical support for appliance and device installation in customer homes.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
elko competitors and assessment
Company assessmentBroad incumbents
- Komplett: Leading Nordic online electronics and PC retailer with growing physical presence. Comparable to ELKO on consumer electronics assortment, gaming focus, and B2B services, though skewed more online and toward the Norwegian/Swedish markets.
- Amazon: Global e-commerce platform shipping consumer electronics and appliances directly into Iceland. Comparable on the e-commerce/electronics-retail dimension and represents the dominant cross-border competitive threat to ELKO's pricing and selection.
- MediaMarkt: Europe's largest consumer electronics retailer (part of Ceconomy) operating in dozens of countries. Comparable on big-box CE retail, broad assortment across smartphones/computers/appliances/gaming, and value-added services like installation and trade-in.
- Elgiganten: Large Nordic consumer electronics and appliance chain owned by Dixxon Group operating across the Nordics. Comparable to ELKO on category mix, omnichannel model, and large-store format, though at much greater scale and broader geographic footprint.
- Power (Power International): Major Nordic electronics and home appliance retailer operating in Norway, Sweden, Denmark, and Finland. Comparable on product range (consumer electronics, white goods, gaming), omnichannel retail model, and value-added services like installation and trade-in.
- Expert (Expert Sverige / Expert ASA): Pan-Nordic electronics and appliance retail franchise chain with stores across multiple countries. Comparable to ELKO on consumer electronics + appliance assortment, physical retail with e-commerce integration, and B2B services.
Others
- Foxway Group: Estonian-based circular-economy partner operating device refurbishment, trade-in processing, and WEEE-compliant e-waste recycling across Europe. Comparable as ELKO's exclusive trade-in/recycling back-end and a key ecosystem enabler rather than a competitor.
Direct peers
- Húsasmiðjan: Iceland's other major omnichannel electronics, appliance, and home-goods retailer with physical stores and online sales, competing head-to-head with ELKO across consumer electronics, white goods, and accessories in the domestic Icelandic market.
Regional players
- Heimkaup: Icelandic e-commerce platform operated by Húsasmiðjan offering electronics, appliances, and home goods online. Comparable to ELKO on product mix and customer base but with a primary online-channel focus rather than omnichannel physical retail.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
elko social profiles
Digital presenceelko financial estimates
Financial estimateRevenue estimate
Valuation estimate
elko leadership team
Management profileNumber of profiles
elko funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
elko M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about elko
What does elko do?
ELKO is Iceland's leading consumer electronics retailer operating physical stores across Reykjavik and Akureyri, an e-commerce platform (elko.is), and a duty-free store at Keflavik Airport. The company sells smartphones, computers, home appliances, audio/video equipment, gaming products, wearables, and accessories, and offers device trade-in, delivery and installation services, B2B procurement solutions, and gift cards.
Is elko a public or private company?
elko is a private company. It is currently operating.
When was elko founded?
elko was founded in -1. It employs 101 to 250 people.
How does elko make money?
Four revenue lines are on record. Consumer Electronics Retail is the primary driver. The others are device Trade-in Services, duty-Free Retail and B2B/Fyrirtækjaþjónusta.
Who are elko's main competitors?
Broad incumbents on record are Komplett, Amazon, MediaMarkt, Elgiganten, Power (Power International) and Expert (Expert Sverige / Expert ASA). Foxway Group is listed as an others. Húsasmiðjan is listed as a direct peer. Heimkaup is listed as a regional player.
Does elko have an API?
No public API is recorded for elko.