Best Buy is the largest electronics and technology retailer in the United States, generating over $50 billion in revenue annually. It operates large stores that are divided into departments based on product categories like computers, mobile phones, TVs, and appliances. In addition to products, Best Buy offers services through partnerships with internet, TV, and phone providers, and through its Geek Squad brand which provides repairs and installations. It also owns private label brands like Dynex, Insignia, and Rocketfish that allow it to offer accessories and some devices at lower prices and with more flexibility.

1. electronics retailer company profile best
Large retail stores line major roads of American towns and cities, enticing consumers with
attention grabbing advertisements for products that differ from everyday necessities, to flashy toys
which promise hours of entertainment. Even though many stores carry these entertainment
products, like TV's, computers, gaming systems, and mp3 players, there exists one company that
stands higher than the rest when the "dominant technology and entertainment retailer" in the
United States - Best Buy.
Having a gross income of over $50 Billion in fiscal year 2011, plus a net income of $1.227 billion,
Best Buy Co., Inc holds on the list of largest market shares during the electronic products
industry, because they should. Best Buy, founded in 1966, is electronics merchant, whose stores
are chock packed with expensive electrical toys and tools. Stores are divided into departments,
each department devoted to a variety of technology. Each store carries a Home Entertainment,
Computer/Tablet, MP3/iPod, Gaming, Digital Imaging, Car Electronics, Music/Movies, Appliances,
and Mobile (mobile phone) department, in which products in addition to their accessories are
stored on display.
Best Buy, striving to be a destination shop for customers, also provides services to visit in addition
to their products. Through partnerships with companies for example Comcast, Dish Network,
Time Warner, and Clear Wireless, customers can leave the shop with connections to the internet,
cable or dish TV, and phone services. With the acquisition of Geek Squad in 2002, Best Buy is
likewise able to offer repair and installation services on lots of its wares, such as TV's, computers,
and appliances. The fact is, Best Buy now brands most of its warranties and installation services
together with the Geek Squad name, and encourages customers to apply their in-store service
counters, where they are able to talk face to face which has a Geek Squad agent about the issues
that they are experiencing using their technology.
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Geek Squad is not the one brand to get belonging to Best Buy. Product brands for example
Dynex, Insignia, and Rocketfish are properties of Best Buy. These brands are mostly
manufacturers of product accessories like wireless mice (for computers), speakers, cables and
cases, but both Dynex and Insignia are manufacturers of larger products, like TV's. Having
"house brands" is helpful to the company given that they lead to higher margins on those
products, and Best Buy has greater control over product inventory levels and greater flexibility in
the development of new services to fit with market trends. By way of example, Best Buy managed
to answer to the discharge of your IPad by creating several IPad accessories, like cases and
stands, through its brand Rocketfish. Not only did consumers benefit with a greater selection of
accessories from which to choose, and also from the more affordable prices that arose resulting
from competition from the accessories market.
Other brands associated with Best Buy are Magnolia, a branch of your home Theater department,
through which more expensive TV's and speakers are offered, for people customers that desire

2. above average performance using their TV's and speaker set-ups, and Napster, which, up until
earlier this coming year, was an effort by Best Buy to get into the tunes streaming and download
market. (Napster was recently sold to Rhapsody on an undisclosed amount.)