best buy

Best Buy bails out of European venture in $775M deal

Best Buy is selling its 50 percent joint venture stake back to mobile phone retailer Carphone Warehouse for 500 million pounds ($775 million).

It's a massive loss for Best Buy, which bought 50 percent of Carphone Warehouse's retail operations for $2.1 billion in 2008, during the time where the global financial crisis was about to kick the European market firmly where it hurts.

In a statement on Tuesday, Best Buy said it has entered a definitive agreement to sell its half of the business in conjunction with Carphone Warehouse back to the company. The total figure includes … Read more

Leap Motion to delay ship date until July 22

Leap Motion said today that it will delay shipping its Leap 3D motion controller to preorder customers until July 22. The startup had said previously that it planned on shipping next month. Retail partners will make the product available to other customers "shortly after" that date.

In a conference call, CEO Michael Buckwald said that although he felt that the company could have gotten Leaps into people's hands by the original schedule, that time frame wouldn't have allowed time for adequate testing. As such, Leap Motion plans a beta testing period starting in early June. The … Read more

Busy fall for Apple, Xbox, and Amazon

CNET Update is out of breath:

Apple fans will have to wait until the fall for new "amazing" products, or so promises CEO Tim Cook.

Samsung fans will also be doing some waiting. The Galaxy S4 was said to hit stores this weekend, but the smartphone is facing supply issues -- and that's causing T-Mobile and Sprint to push back launch dates and only sell online. But you may be able to find one on Saturday in stores at AT&T, and on Tuesday at U.S. Cellular. [Read CNET's review here.]

For shoppers that … Read more

Samsung, Best Buy to operate mini shops for three years

Shoppers hoping to check out the Samsung mini shops in Best Buy stores will have a few years to do so, the companies said Wednesday.

The agreement to operate Samsung Experience shops within all U.S. Best Buy locations will last for the next three years. The companies then will evaluate whether to extend their pact or end it, executives from Samsung and Best Buy said.

So far, the few experience shops already open have received "a lot of positive customer feedback," Best Buy CEO Hubert Joly said Wednesday during a press event in New York.

"Both … Read more

Best Buy chops older iPad prices as much as 30 percent

Consumers looking to pick up an iPad will find discounts as high as 30 percent courtesy of Best Buy.

The retailer is offering the 16GB version of the 3rd-generation iPad $314, down from $449. The 32GB will run you $384, down from $549. And the 64GB edition is on sale for $454, down from $649.

The discounts also extend to the cellular flavors of the iPad 3, mostly with A&T but at least one with Verizon.

Consumers not interested in the iPad can also land a few discounts at Best Buy.

The first-generation version of Amazon's Kindle Fire is on sale for $99, … Read more

Nokia shutters its flagship China store

Nokia has closed its flagship store in China, once touted as its largest worldwide.

Nokia told ZDNet that the Shanghai store, which opened in 2007, shut down at the end of March. CNET also confirmed the closure.

"For a while now, Nokia has been focusing on growing its presence in operator and third-party retail outlets, rather than through our own physical stores," according to a company representative. "We are, of course, also continuously beefing up our online presence."

Nokia is shuttering the store even as it presses further to regain lost ground in China, considered one … Read more

The strange and inglorious history of tech boutique retailers

Last year, nearly as many people visited Apple's retail stores as went to Disneyland parks. That's something to marvel considering Disney has been in the amusement park business since 1955, and Apple's gadget stores are barely 12 years old. Apple's stores are also light on the cotton candy, fireworks, and bathrooms.

While there are plenty more differences between the two, one major similarity is that both companies have relied on these institutions as the ideal experience for interacting with their products.

In that same vein comes Samsung's latest foray into the retail business. Today, the company announced plansRead more

Samsung takes smartphone battle to the storefront

DALLAS -- Samsung has opened a new front in its battle for smartphone supremacy: the storefront.

The Korean electronics giant plans to set up mini Samsung stores inside all U.S. Best Buy and Best Buy Mobile venues within the next couple of months -- just in time for the Galaxy S4 launch. The "Samsung Experience Shops," which start rolling out Monday, will be in 500 big-box Best Buy stores and all 410 Best Buy Mobile locations by early May. Best Buy's remaining 550 large-format Best Buy stores will feature the shops by early June.

A larger … Read more

Samsung launching mini stores in Best Buy shops, report says

Samsung may soon be launching mini stores within Best Buy stores, according to a new report, giving the Korean electronics giant some retail heft just in time for the Galaxy S4 launch.

According to Geek.com, certain high-traffic Best Buy locations will soon remove two aisles near their mobile departments to install new Samsung stores. Each section "will be dressed in large Samsung signage and offer custom demo stations for many of Samsung's products," the site said. Employees in each section will receive special training about how to demo Samsung-specific features.

The stores-within-stores will highlight the Galaxy … Read more

Best Buy brings founder Schulze back on board

Best Buy said today that its founder, Richard Schulze, is returning to the company as chairman emeritus.

Schulze is also bringing with him a pair of new members for Best Buy's board of directors, former company executives Brad Anderson and Al Lenzmeier. The two are joining the board immediately and then will stand for election at the annual shareholder meeting in June, Best Buy said.

It wasn't so long ago that Schulze was trying to acquire Best Buy and take it private. Last August, he submitted an offer of between $24 and $26 a share to buy the … Read more