By Allen Tsai | Wed Jun 24, 2009 5:50 pm |
Electronics retailer Best Buy plans to grow its mobile phone venture, called Best Buy Mobile, by opening 40 standalone handset stores within the year, which it hopes will boost its share of the U.S. market.
The Richfield, Minn.-based company's new chief executive, Brian Dunn, said mobile phones will be a crucial part of the company's new campaign to focus on "gadgets with connectivity."Dunn said consumers were responding well to its new Best Buy Mobile displays -- central locations where mobile phones such as Apple's iPhone and Palm's Pre are shown. Best Buy currently has about 3 percent of the U.S. market, which it believes it can push to 15 percent. Last month, Best Buy paid $2.1 billion for a 50 percent stake in Carphone Warehouse, Europe's largest mobile phone retailer. Carphone Warehouse currently has an 11 percent share in Europe. However, the company faces increasing competition from rivals Wal-Mart, which is aggressively pushing to expand its share of the electronics market, and Amazon.com, which continues to become a dominant factor as customers gravitate to online shopping.
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Wed Feb 08, 2012 4:09 pm | By
Apple is facing increasing animosity over working conditions at its Chinese factories, as protestors gather to demonstrate against the iPhone maker's controversial labor issues.
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Wed Feb 08, 2012 3:58 pm | By
Broadband startup LightSquared wants the Federal Communications Commission to set standards for GPS reliability, as it attempts to fast-track its own approval process with the regulator.
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Wed Feb 08, 2012 3:43 pm | By
The 54th Grammy Awards is just days away, and the show will harness mobile and social media technology as old media tries to keep pace with new trends among its viewing audience.
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Wed Feb 08, 2012 3:26 pm | By
Facebook will ramp up mobile payments on its network, as it readies for its IPO and strives to compete with Google for ad and gaming revenue.
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Wed Feb 08, 2012 2:39 pm | By
T-Mobile is enticing customers with free 4G devices on Saturday for a Valentine's Day promotion, as it strives to lure data-hungry subscribers and clear inventory for newer devices.
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