Best Buy

Best Buy is a U.S. company based in Richfield, Minnesota.

Best Buy sells consumer electronics as well as a large number of different products such as computers, computer software, video games, music, DVDs, mobile phones, digital still and video cameras and household appliances such as dishwashers, dryers, and freezers. Each business from Best Buy furthermore a range of equipment for vehicles.

Best Buy has even some brands that are sold in stores from Best Buy. Currently include Best Buy five brands: Insignia, Dynex, Init, Geek Squad and Rocketfish.

History

Best Buy was founded in 1966, when Richard M. Schulze and his business partner Gary Smoliak a company opened with the company name Sound of Music in Saint Paul, Minnesota. 1967 Sound of Music acquired the company Kencraft Hi-Fi Company and Bergo Company. The second store was opened near the University of Minnesota and the third shop in Downtown Minnesota. In 1969 the IPO.

2001 Best Buy acquired the Canadian company Future Shop Ltd.. and thereby gained access to the Canadian retail market for consumer electronics. In 2002 the company was acquired Geek Squad.

2007, a class action lawsuit against Microsoft and Best Buy on appeal before the United States Court of Appeals for the Ninth Circuit in San Francisco - despite concerns - admitted on the basis of the RICO Act. The lawsuit was brought by James Odom in April 2000, the two companies accused of fraud because they shared customer information for purchases made on credit cards and the customer will not be informed about it. Microsoft had in Best Buy obliged after an investment of 200 million U.S. dollars to advertise for this company, in exchange, the merchant should apply Microsoft products.

2008 Best Buy and Carphone Warehouse has announced the formation of a joint venture known, to which both sides hold 50%.

In Izmir in 2010 opened the first Best Buy market in Turkey, the United Kingdom followed in the spring of 2010, the first British settlement. It is expected that Best Buy will try to be a long-term root across Europe.

Miscellaneous

The sales transactions are usually provided in a light shade of brown and the entrance is decorated in blue color. Best Buy came in February 2008 in the headlines as a result of a lost notebook an action for damages in the amount of $ 54 million was raised.

Best Buy is the primary sponsor of NASCAR teams Haas CNC Racing and their driver Jeff Green.