Best Buy says it plans to eventually have 1,000 mobile stores across the US, up from the 77 it currently operates. The retailer is reportedly opening the stores in enclosed malls.
The move follows rumors that Best Buy could acquire Radio Shack and its 7,000 stores, one of the country’s largest mobile-phone sellers.
Right now Best Buy says it controls about 4% of the total US mobile phone market. Last summer Best Buy’s CEO said that his company expects to increase that number to 15%, and it looks like the retailer is well on its way.
We don’t see consumer interest for these products going away any time soon, and Best Buy is likely to get some pretty good deals on rent. Is this ramp up a good move for the company?