Best Buy Gives Up on European Expansion
Best Buy will sell its 50% stake in Carphone Warehouse back to the company for about $775 million. Best Buy partnered with Carphone Warehouse back in 2008, with Best Buy investing in Carphone Warehouse's European operations and Carphone Warehouse investing in Best Buy's U.S. operations. The original intent was to allow each company to expand in the other's market. The partnership never bore any fruit. Best Buy bought Carphone Warehouse out of its U.S. joint venture in 2011. The deal is now coming full circle, as Carphone Warehouse will buy Best Buy out of its European stake, leaving Best Buy to focus on its U.S. operations and Carphone Warehouse to focus on its U.K. operations. Best Buy has been hit by sagging sales at its U.S. big box retail stores, though it has opened a number of smaller, mobile-focused outlets. Carphone Warehouse today also said it would close all its stores in France.
Hands On with Panasonic's Toughpad Phone
Panasonic has a new rugged smartphone for field workers. It's big, tough, and scans barcodes like a champ.
Samsung Releases Pink Gold Galaxy S7 and Galaxy S7 Edge
Samsung today announced a pink gold version of the Galaxy S7 and S7 Edge. The new color will be available only at Best Buy stores in the U.S.
Sprint Takes Control of 100 Stores from Dixons Carphone
Sprint today said it will acquire 100 retail stores that it has operated in partnership with Dixons Carphone since last year. The two companies created a joint venture in February 2016 that relied on retail know-how from Dixons Carphone to sell Sprint goods and services.
Best Buy to Shutter 250 Mobile-Focused Stores
Best Buy will close 250 of its small store stores, which are mostly located in malls and focus on selling mobile devices. "The mobile phone business has matured, margins have compressed and the cost of operations in our mobile standalone stores is higher than in our big box stores," said Best Buy in a memo seen by Reuters.
BB whatever you think of them, had good and bad experiences with them, as of late, positive. But their mobile phone division is one of the few gems, no headgames like other non carrier owned resellers and many times beat the corporate stores with the same service, and superior extended warrenties handled by them, if one is inclined to use that option.