Best Buy said Monday it would buy out Carphone Warehouse’s interest in its North American Best Buy Mobile business for $1.3 billion. By purchasing the CPW stake, Best Buy is trying to shift more of its focus to mobile devices. Best Buy has asked CPW to stay on in a consultancy capacity for up to five years. With sales of TVs and other electronics lagging, Best Buy is going to try for some revenue oomph by leveraging its position in the mobile device market. Killing its European expansion and juicing up its services portfolio may also help.
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Mobile Device Sales May Be Best Buy's Best Bet
Posted by: Rob Spiegel November 7, 2011 11:57 AMBest Buy said Monday it would buy out Carphone Warehouse’s interest in its North American Best Buy Mobile business for $1.3 billion. By purchasing the CPW stake, Best Buy is trying to shift more of its focus to mobile devices. Best Buy has asked CPW to stay on in a consultancy capacity for up to five years. With sales of TVs and other electronics lagging, Best Buy is going to try for some revenue oomph by leveraging its position in the mobile device market. Killing its European expansion and juicing up its services portfolio may also help.