I need to pay more attention to my rumors. When I was told that Microsoft would be trying to find a way into livingrooms by working with Samsung to create an OS for HDTVs I almost didn’t believe it. It just made too much sense. It turns out that the rumor is true, just not with Microsoft. Best Buy has been up to a lot of creative initiatives to further extend their reach and dominance in Consumer Electronics.
Over the last year or so, Best Buy:
- started selling iPhones to help increase traffic into the stores and help drive revenue on activations and accessories.
- began testing kiosks to sell used video games to encroach on the business of GameStop, and Electronics Boutique.
- has introduced more televisions and other electronics from it’s private label brands Dynex and Insignia.
- will be including Tivo service into their Dynex and Insignia HDTVs.
- upgraded the warranty of their house brand HDTVs to 2 years.
The latest development is that Best Buy is working with several big manufacturers to add a branded digital storefront. The move will allow Best Buy to drive more incremental revenue and capitalize on the existing fractured marketplace.
If I were a gambling man I’d be loading up on shares of BBY. What do you think of Best Buy’s moves as of late?
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