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Electronic retailer Best Buy is dire trouble right now, facing a tough company-wide adjustment not long after closing all of their stores in the U.K. and cutting thousands of jobs in their United States. But with plans to go private and delist themselves from the stock market, the chain could implement mass price cuts.

Exactly when those price cuts will happen isn’t certain—but the idea is reportedly on the table, thanks to founder Richard Schulze, who offered to buy control of the company in an $8 billion-to-$9 billion buy-out.

If that does happen, it wouldn’t be weird to be some heavy discounts on gaming consoles, tablets, and smartphones during the next year, even past the usual bargain-busting “Black Friday” period this holiday season.

With Best Buy aiming to compete with online stores like Amazon and Newegg (who regularly host frequent price cuts and limited deals), that could translate to lowered prices across the board for all electronics. Regardless, more stores are expected to close whether or not Best Buy’s board of directors accepts Schulze’s offer—so watch your local store for a potential closing sale.

About 50 stores are expected to shut down, and discounts on smartphones, batteries, video games, and related gear (controllers, cables, accessories) are speculated to get 20 percent price cuts, at least.

If you want to make a trek and load up, you can check out a list of Best Buy stores currently slated to close right over here.

Source: CNET

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Best Buy Planning Mass Price Cuts, Could Apply To Gaming Gear

Electronic retailer Best Buy may to turn into a private organization, effectively delisting themselves from the stock market, but the chain could implement mass price cuts as a result.

By EGM Staff | 08/10/2012 02:39 PM PT

News

Electronic retailer Best Buy is dire trouble right now, facing a tough company-wide adjustment not long after closing all of their stores in the U.K. and cutting thousands of jobs in their United States. But with plans to go private and delist themselves from the stock market, the chain could implement mass price cuts.

Exactly when those price cuts will happen isn’t certain—but the idea is reportedly on the table, thanks to founder Richard Schulze, who offered to buy control of the company in an $8 billion-to-$9 billion buy-out.

If that does happen, it wouldn’t be weird to be some heavy discounts on gaming consoles, tablets, and smartphones during the next year, even past the usual bargain-busting “Black Friday” period this holiday season.

With Best Buy aiming to compete with online stores like Amazon and Newegg (who regularly host frequent price cuts and limited deals), that could translate to lowered prices across the board for all electronics. Regardless, more stores are expected to close whether or not Best Buy’s board of directors accepts Schulze’s offer—so watch your local store for a potential closing sale.

About 50 stores are expected to shut down, and discounts on smartphones, batteries, video games, and related gear (controllers, cables, accessories) are speculated to get 20 percent price cuts, at least.

If you want to make a trek and load up, you can check out a list of Best Buy stores currently slated to close right over here.

Source: CNET

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0   POINTS