By Star Chang, posted Oct 11, 2011 at 11:36 AM, 527 views,

Best Buy Is Not Coming Back to China

Well, the famous U.S. electronics retailer is not going back to China market afterall. Best Buy has reportedly decided to shelve plans to reopen two stores in Shanghai, according to the Chinese media report. Look like the Europe’s leading retailer Media Markt is doing a better sales in China then American folks !

Previously, we had reported Best Buy’s intentions to reopen its flagship store in Shanghai as soon as December of this year, after its February withdrawal from the China market. The new unofficial announcement is came from a related insider working inside Five Star Electronics, the Best Buy’s subsidiary retailer in China. Best Buy’s decision is now a reverse of a reversal of a withdrawal.

The U.S. retailer is not completely bust on the China Market, however its subsidiary is quite a popular domestic brand. Five Star, based in Nanjing, eastern Jiangsu province, has about 170 stores in seven provinces, employs more than 8,000 people and had sales of 24.7 billion yuan ($3.8 billion) in 2009. It acquired by Best Buy five years ago. During 2009, Five Star Appliance has became Apple first-tier distributor in China.

Source : CCIDnet via shanghaiist, Bloomberg

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