Best Buy is a multinational electronic corporation founded around the 1960's. It was first named "Sound of Music" but in 1983 it was changed to Best Buy. Best buy has made over 900 million dollars in profit but it looks like their mobile phone stores are causing a decline in sales. When Best Buy first opened their Mobile-Phone stores their sales rates were exceedingly high. They had locations in convenient areas such as malls, shopping centers and outlets. But as different phone carriers began opening more locations the sales for best buy mobile phone stores began to decline. This industry is very competitive as is! From left to right you see promotion and sales from different carriers, such as T-mobile, Sprint, Verizon, ect.., trying to boost their market. Best Buy could no longer compete in the mobile phone market since their competition was ahead of them. Not a lot of people would hear of Best Buy's mobile phone stores, especially since it was "outdated." But Best Buy is trying to look at maintaining their electronics stores open and putting more effort on e-commerce by matching prices from other stores and offering technical support.
Link: https://www.wsj.com/articles/best-buy-to-close-mobile-phone-stores-1519868914
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