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
You might be familiar with the term "megabyte."
For some, though, it represents an emotional megadeath.
You might know what an ISP is, but some need ESP in order to explain to themselves what this actually means.
This, at least, is the conclusion of a deeply disturbing piece of research, performed in the U.K. on behalf of Carphone Warehouse's Geek Squad. … Read more
Hard drive shortages and weak sales slow down the PC market, HTC announces phones that will get the Android 4.0 Ice Cream Sandwich update, and Barnes & Noble takes on the Kindle with a new lineup, including the Nook Tablet and Nook Simple Touch.
Links from Monday's episode of Loaded:Barnes and Noble's new Nook Tablet Nook Color and Simple Touch HTC lists Ice Cream Sandwich updates HDD shortage slows PC demand Best Buy shuts down UK stores Subscribe: iTunes (MP3) | iTunes (320x180) | iTunes (HD) | RSS (MP3) | RSS (320x180) | RSS HD
After several disappointing quarters that left shareholders concerned about its future, Best Buy has announced a host of changes to its operation that it believes, could dramatically improve its financial standing.
First up, Best Buy says that it will buy out Carphone Warehouse (CPW)'s interest in the company's U.S. and Canadian Best Buy Mobile business. Currently, Best Buy and Carphone Warehouse share all profits related to sales through the Mobile retail service. By buying CPW out for $1.3 billion, the retailer believes that it can more fully capitalize on the growth of mobile devices.
"Best … Read more
Best Buy, the largest consumer electronics retailer in the U.S., is getting into the European cell phone market by taking a stake in retailer Carphone Warehouse.
Best Buy, which operates 900 stores across the U.S., will pay $2.1 billion for half interest in Carphone Warehouse, the largest cell phone retailer in Europe.
Carphone Warehouse's 2,400 U.S. and European stores will be included in the new joint venture. Also included in the deal are Carphone Warehouse's Web, insurance, and airtime reselling businesses. But the company will retain full ownership of its traditional landline phone … Read more
Price apparently was an object for U.K. iPhone shoppers.
The decision by U.K. carrier O2 to cut the price of the 8GB iPhone prompted shoppers to exhaust stocks of that model at O2's Web site and at Carphone Warehouse, an authorized iPhone reseller. Pocket-Lint confirmed with Carphone Warehouse that the 8GB models are kaput, and O2 told the site that while online stocks of the 8GB model are gone, retail stocks are dwindling fast.
It was only a week ago that O2 cut the price of the 8GB model from 269 British pounds ($533) to 169 British … Read more