Samsung Considers Financing a Stake in Retail Giant Best Buy
The Internet has made it tough for some brick-and-mortar businesses to stay afloat, and that's especially true in the field of electronics. There's a trail of electronics retailers that fell by the wayside and either closed shop entirely or were bought out, such as CompUSA, Good Guys, and Circuit City. Best Buy has managed to defy the odds up to this point, but it's been a series of challenges. Will Best Buy be around in another 10 years?
That depends on how it handles itself between now and then. One interesting development is that Samsung is said to be in talks with Best Buy about...something. The only thing Samsung's vice chairman Lee Jae-yong would fess up to is that he "recently met with senior executives at Best Buy and discussed pending business issues." What kind of "business issues" isn't known, though there have been rumors that Samsung is looking to purchase a stake in Best Buy.
These two firms already have a working relationship with each other. If you've been to a Best Buy recently, you may have noticed new Samsung Experience Shops, a dedicated space in the store designed to show off Samsung's many different gadgets.
It would be an interesting move, especially if Samsung bought a significant stake in the electronics retailers. In addition to housing Experience Shops, Best Buy stores also dedicate store space to Apple products, Samsung's chief competitor in mobile.
Samsung Electronics America reached out to HotHardware to provide the following statement:
That depends on how it handles itself between now and then. One interesting development is that Samsung is said to be in talks with Best Buy about...something. The only thing Samsung's vice chairman Lee Jae-yong would fess up to is that he "recently met with senior executives at Best Buy and discussed pending business issues." What kind of "business issues" isn't known, though there have been rumors that Samsung is looking to purchase a stake in Best Buy.
These two firms already have a working relationship with each other. If you've been to a Best Buy recently, you may have noticed new Samsung Experience Shops, a dedicated space in the store designed to show off Samsung's many different gadgets.
It would be an interesting move, especially if Samsung bought a significant stake in the electronics retailers. In addition to housing Experience Shops, Best Buy stores also dedicate store space to Apple products, Samsung's chief competitor in mobile.
Update
Samsung Electronics America reached out to HotHardware to provide the following statement:
"Reports that Samsung is considering to acquire a stake in Best Buy are not true. There have been no talks whatsoever regarding stock acquisition of either company."
