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RumorTT: Samsung to purchase stake in Best Buy

RumorTT: Samsung possibly looking into purchasing a stake in US retailer Best Buy (KRX:005930, NYSE:BBY)

| Business, Financial & Legal News | Posted: Oct 6, 2013 1:37 am

Samsung is looking to post yet another record quarter, with the South Korean giant reportedly in the motions to purchase a stake in Best Buy. Best Buy is one of the largest retailers in the US, so it would be a big scoop for Samsung to own a stake of it.

 

TweakTown image news/3/3/33296_02_rumortt_samsung_to_purchase_stake_in_best_buy.jpg

 

Samsung's Vice Chairman, Lee Jae-yong spoke with The Korea Times, saying that he "recently met with senior executives at Best Buy and discussed pending business issues." The Galaxy device maker has already worked with the US retail giant on the "Samsung Experience Shops" that have been opening up within Best Buy stores across the United States.

 

This move will only increase its exposure within the US, acting like quasi-Apple Stores, which will help Samsung sell even more smartphones in the US market than they do now.

NEWS SOURCES:Bgr.com

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