Carphone and Best Buy hail shake up: related news

Best Buy Pays $2.1 Billion For Half Of Britain's Carphone Warehouse

U.S. electronics store Best Buy said today that it is paying $2.1 billion for half of Carphone Warehouse in order to enter the European consumer electronics market, Reuters reports. Carphone’s 2,400 existing stores will continue to operate under the Carphone Warehouse and Phone House brands in nine European markets, and starting in 2009 the new company will roll out larger stores under the Best Buy name. Previously, Best Buy teamed up with Carphone Warehouse to create Best Buy Mobile in the U.S. The concept will be added to all Best Buy stores this year. The two companies also have been collaborating to bring Geek Squad technical support to European markets. Best Buy said the consumer electronics category is the fastest-growing in European retail over the past five years and represents about a £89 billion ($175 billion) market.

Media Alert - Best Buy Canada Announces Plan to Support Customers' Smooth Transition to Blu-ray

What: Since Blu-ray has now won the format war, Best Buy Canada wants all Canadians to be able to enjoy and purchase this technology. Best Buy Canada is pleased to announce that beginning this week (March 21, 2008), the company will offer customers $50 off on the purchase of any dedicated Blu-ray player. For customers who purchased HD-DVD players and attachments within the last year, Best Buy Canada will offer these customers an additional $50 Best Buy gift card. Best Buy Canada is dedicated to never leave its customers hanging so customers who have purchased an HD-DVD player from Best Buy Canada since January 1, 2007, need to bring their original receipt from their HD-DVD purchase into any Best Buy store in Canada to receive their $50 Best Buy gift card.

Media Alert - Best Buy Canada Announces Plan to Support Customers' Smooth Transition to Blu-ray

BURNABY, BC, March 19 /CNW/ - << What: Since Blu-ray has now won the format war, Best Buy Canada wants all Canadians to be able to enjoy and purchase this technology. Best Buy Canada is pleased to announce that beginning this week (March 21, 2008), the company will offer customers $50 off on the purchase of any dedicated Blu-ray player. For customers who purchased HD-DVD players and attachments within the last year, Best Buy Canada will offer these customers an additional $50 Best Buy gift card. Best Buy Canada is dedicated to never leave its customers hanging so customers who have purchased an HD-DVD player from Best Buy Canada since January 1, 2007, need to bring their original receipt from their HD-DVD purchase into any Best Buy store in Canada to receive their $50 Best Buy gift card.

Carphone and Best Buy hail shake-up

Best Buy of the US and the UK’s Carphone Warehouse on Thursday promised to shake-up the European consumer electronics landscape with a new joint venture. Carphone also underlined its ambition to become the UK’s largest broadband provider, with an indicative offer of £550m for the UK broadband assets of Tiscali, the Italian telecoms company. Best Buy, the world leader in consumer electronics, is paying £1.1bn to Carphone for a 50% stake in the European JV, into which Carphone is putting all its retail assets. Lombard says while shareholders should welcome a stronger balance sheet for Carphone, the financial terms of the tie-up are “far from compelling� and the strategic logic “requires a leap of faith�.

Best Buy to acquire 50% in Carphone Warehouse retail business

US electronics retailer Best Buy has agreed to buy 50 percent in Carphone Warehouse's European retail business for GBP 1.1 billion. The two will form a new joint venture company which will include The Phone House chain in Europe and their existing joint venture in the US, Best Buy Mobile. Carphone operates over 2,400 shops in nine countries in Europe, and its insurance and airtime business will also join the new company. The deal with Best Buy gives it the backing to expand into new product categories and build on the market convergence in entertainment, computing and communications. For Best Buy, the transaction offers a platform to expand to Europe, where it plans to start opening stores in 2009. Carphone's fixed-line activities in the UK will remain outside the transaction, as well as its share in Virgin Mobile France.

Carphone, Best Buy Form Firm

LONDON -- The Carphone Warehouse Group PLC (“The Carphone Warehouse”) (LSE:CPW - News) and Best Buy Co., Inc. (“Best Buy”) (NYSE:BBY - News) have agreed to form a new venture to accelerate their growth by capitalising on the European consumer’s evolving appetite for consumer electronics. The assets of the newly-formed company will comprise The Carphone Warehouse’s existing retail business, operating from more than 2,400 stores in nine European countries under the Carphone Warehouse and Phone House brands; and The Carphone Warehouse’s share of its existing relationships with Best Buy.

Carphone, Best Buy Form Firm

LONDON -- The Carphone Warehouse Group PLC (“The Carphone Warehouse”) (LSE:CPW - News) and Best Buy Co., Inc. (“Best Buy”) (NYSE:BBY - News) have agreed to form a new venture to accelerate their growth by capitalising on the European consumer’s evolving appetite for consumer electronics. The assets of the newly-formed company will comprise The Carphone Warehouse’s existing retail business, operating from more than 2,400 stores in nine European countries under the Carphone Warehouse and Phone House brands; and The Carphone Warehouse’s share of its existing relationships with Best Buy.

Best Buy Names First-Ever Brand Ambassador

Minneapolis-based Best Buy Co. Inc. announced an exclusive agreement with the Chicago Fire Soccer star Cuauhtemoc Blanco as the first-ever brand ambassador for the company. As part of his agreement with Best Buy, Blanco will work with Best Buy in the United States as the brand ambassador for the company's new Hispanic shopping experience. In addition, he will work closely with Best Buy's 45 Chicago-area stores to encourage learning through technology among young people. "Connecting with our Hispanic customers is a fundamental part of Best Buy's growth strategy," said Teresa Iglesias-Solomon, vice president of multicultural initiatives at Best Buy. "We believe our involvement with Cuauhtemoc and Chicago Fire Soccer will help us build long-lasting relationships with many new customers, especially those with a Hispanic background.

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Best Buy teams up with leading European cell phone retailer

MINNEAPOLIS (AP) - Consumer electronics chain Best Buy Co. Inc. is establishing a foothold in the European market with a $2.1 billion investment in the continent's largest cell phone retailer, allowing the American company to roll out its trademark big box stores in Europe, the companies said Thursday. The London-based Carphone Warehouse Group PLC will put its 2,400 Carphone Warehouse and Phone House stores in Europe into the new joint venture. In a conference call with analysts, the companies said they have been speaking for four years and have collaborated for two, developing the Best Buy Mobile concept for Best Buy stores in the U.S., and bringing Best Buy's Geek Squad, a 24-hour computer support task force, to Europe. 'We are partnering with an incredibly powerful and incredibly successful organization,' said Charles Dunstone, chief e

Revisiting the Best Buy, Speakeasy Combination

Nearly a year has passed since Best Buy bought Seattle-based broadband services provider Speakeasy Inc. The plan was to add Speakeasy to the Best Buy for Business division alongside Geek Squad and the hardware and office supplies units. Best Buy has done that, although it hasn’t forced too much integration. The synergies just now are coming together, according to the company, as Speakeasy finishes training Best Buy salespeople and honing its product set. In the coming months, Speakeasy says, it aims to solidify itself, with Best Buy for Business as an alternative not only to ILECs, but to CLECs.

Best Buy and the Carphone Warehouse to Create New Company

The Carphone Warehouse Group PLC and Best Buy Co., Inc. agreed to form a new venture to accelerate their growth. The assets of the newly-formed company will comprise The Carphone Warehouse’s existing retail business, operating from more than 2400 stores in nine European countries under the Carphone Warehouse and Phone House brands; and The Carphone Warehouse’s share of its existing relationships with Best Buy.

Carphone and Best Buy hail European shake-up

Best Buy of the US and the UK’s Carphone Warehouse on Thursday promised to unleash a far-reaching shake-up of the European consumer electronics landscape with a new joint venture.

Best Buy Clearing Out HD-DVD Inventory

"Best Buy is apparently aiming for a quick transition to Blu-ray, as a reader has informed us that select Best Buy stores have begun get rid of their HD DVD movies with massive price cuts. Other Best Buy stores apparently are not even trying to sell HD DVDs anymore and are sending the movies back to publishers. We were able to verify our reader’s observations at the Best Buy store in Dublin, CA. It turns out that the store is dumping its entire HD DVD stock: All movies are selling for $9.99, while TV shows are offered with a 70% discount."

Best Buy Buys Its Way Into Europe via Carphone Warehouse

Best Buy and British retailer Carphone Warehouse are expanding their partnership to the tune of more than $2 billion. Best Buy will pay that amount for a 50 percent stake in Carphone Warehouse, which will contribute its 2,400 outlets to the joint venture.

Best Buy Buys into Carphone Warehouse and Targets Europe

UK-based mobile phone retail chain Carphone Warehouse has announced a £1.1 billion tie-up with US group Best Buy. Together the pair will launch a joint venture company aiming to target the mobile phone retail market across Europe. Under the terms of the deal, Best Buy will take a 50% stake in Carphone Warehouse's string of high street shops. The two already work together in the US.

Best Buy to Help Pay Customers' DIRECTV Bills

Best Buy launched a relationship with DIRECTV where Best Buy will pay $30 monthly on new customers' DIRECTV bills. Designed to encourage customers to experience the best in high definition, Best Buy will actually pay a portion of customers' bills in the form of a credit appearing on each monthly statement.

Best Buy Canada Offers Discounts On New Gadgets When Consumers Recycle

Best Buy Canada says it is saving old TVs, laptops and MP3 players from ending up in landfills by taking potentially hazardous technology off customers' hands when they buy new gadgets -- and offering some discounts at the same time. When recycling products in these categories, shoppers will save $75 off flat-panel TVs, $100 off certain laptops, and $80 off the new iPod until tomorrow. "We need to be responsible," said Best Buy director of marketing Loveena Chera, "It's the responsibility of the individual at the end of the day. We try to educate our customers about recycling." For other retro electronics, Best Buy offers a free, ongoing recycling service for items such as batteries, ink cartridges and DVD and CD players.

Best Buy to Help Pay Customers' DIRECTV(R) Bills

Beginning March 2, Best Buy will launch a relationship with DIRECTV(R) where Best Buy will pay $30 monthly on new customers' DIRECTV bills.(1) Designed to encourage customers to experience the best in high definition, Best Buy will actually pay a portion of customers' bills in the form of a credit appearing on each monthly statement. Customers can receive the credit through one of three new offers:

Best Buy to Help Pay Customers' DIRECTV(R) Bills

Beginning March 2, Best Buy will launch a relationship with DIRECTV(R) where Best Buy will pay $30 monthly on new customers' DIRECTV bills.(1) Designed to encourage customers to experience the best in high definition, Best Buy will actually pay a portion of customers' bills in the form of a credit appearing on each monthly statement. Customers can receive the credit through one of three new offers:

Best Buy Forks Out $10 Million in Gift Cards to Burned HD DVD Customers

HD DVD buyers are getting relief from Best Buy in the form of $50 gift cards if they purchased a HD DVD player before February 23 from the retailer. Following the lead of Circuit City, Best Buy is doing its best to console bitter HD DVD player owners who placed the wrong bet when buying a next-generation hi-def DVD player. In total Best Buy says it estimates a total of $10 million in gift cards will be distributed.

Best Buy eyes up Europe, buys into Carphone Warehouse

Best Buy and Carphone Warehouse have entered into a joint project to launch the US brand in Europe. But getting Best Buy into the UK isn't just about sticking a big yellow tag on everything.

Best Buy joins forces with Carphone Warehouse

US electricals retailer Best Buy has bought a 50% stake in Carphone Warehouse's retail business. While Verdict Research believes that there is an opportunity for Best Buy to succeed, success is by no means assured in what is an extremely competitive marketplace.

Carphone Warehouse Coming to Best Buy in the U.S.

According to a Business Week story, the UK's Carphone Warehouse is headed to the USA. It seems that the well known phone retailer has partnered up with Best Buy to launched a planned 1000 retail locations in the USA. Some of the planned locations in the U.S. will be boutique shops inside of Best Buy stores, while some will be stand-alone stores.

Carphone Warehouse to Sell Half its Retail Arm to Best Buy

The UK based mobile phone retailer, Carphone Warehouse (CPW) has announced plans to sell half of its retail assets to US based Best Buy - so that the company can focus on its fixed broadband and telecoms services. Some sort of decision involving Best Buy has been expected for a couple of months, and recent bounces in the CPW share price has fueled the speculation.

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