RadioShack to Shutter As Many As 1,100 Stores
RadioShack reported its fourth quarter earnings today, and revealed that it plans to close twice as many stores as initially forecast. The company said slow foot traffic, heavy promotions, and weak smartphone sales during the holiday season led to a quarterly loss of $191.4 million. The company had warned it would close about 500 stores to cut costs, but has now doubled that number to 1,100. The closures will leave RadioShack with about 4,000 stores still open in the U.S. RadioShack is in the process of updating both its image and its sales strategy with a focus on electronic entertainment devices. It sells devices from AT&T, Sprint, and Verizon Wireless.
Galaxy S8 to Cost $750, S8+ to Cost $850: Carriers Share Launch Details
Samsung's new Galaxy S8 and S8+ smartphones will cost $750 and $850, respectively. The phones share almost all features other than size and both ship with 64 GB of internal storage.
More Carriers and Phone Makers Agree to Adopt Google's RCS-Based 'Android Messages' Service
Google today said more wireless network operators and handset manufacturers will use Android Messages, its RCS-based messaging service, as the default SMS/MMS tool on their phones. (Android Messages was previously known as Google Messenger.) Some of the features of RCS, which is a global standard, include group chat, high-resolution photo sharing, advanced calling features, and read receipts.
RadioShack to Close Yet More Stores
RadioShack today said it plans to close as many as 200 more stores as its turn-around efforts stall. In March, the company announced it would close 1,100 stores by the end of the year.
Sprint May Scoop Up Half of RadioShack's Stores
RadioShack and its creditors might sell half the company's stores to Sprint and close the remaining locations, reports Bloomberg. Sources familiar with the companies' plans suggest Sprint would rebrand the RadioShack stores, which would cease to exist as stand-alone electronics stores.
RadioShack Declares Bankruptcy, to Sell Stores to Sprint
RadioShack today filed for Chapter 11 bankruptcy protection and signed an agreement to sell approximately 1,750 of its stores to Sprint. Under the terms of RadioShack's Chapter 11 filing, RadioShack will sell the stores to Sprint and General Wireless, a subsidiary of one of RadioShack's major investors.
Loss of turnkey
Good place for batteries