POSTED ON : 26 Aug 2020   BY : Indoleads Bot

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Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in Richfield, Minnesota. It was originally founded by Richard M. Schulze and James Wheeler in 1966 as an audio specialty store called Sound of Music. In 1983, it was re-branded under its current name with an emphasis placed on consumer electronics.

Best Buy operates internationally in Canada and Mexico. Best Buy sells cellular phones from Verizon Wireless, AT&T Mobility, Sprint Corporation in the United States. In Canada, carriers include Bell Mobility, Rogers Wireless, Telus Mobility, their fighter brands, and competing smaller carriers, such as SaskTel.

Best Buy sells consumer electronics and a variety of related merchandise, including software, video games, music, mobile phones, digital cameras, car stereos, and video cameras, in addition to home appliances (washing machines, dryers, and refrigerators), in a non-commissioned sales environment. Under the Geek Squad brand, Best Buy offers computer repair, warranty service, and accidental service plans. Best Buy provides an online community forum for members, where consumers can discuss product experiences, ask questions and get answers from other members or retail product experts.

As of October 29, 2019, Best Buy operated 1,026 Best Buy, 331 Best Buy Mobile stand-alone stores, and 28 stand-alone Pacific Sales stores in the US. Best Buy also operated: 135 Best Buy and 53 Best Buy Mobile stand-alone stores in Canada; and 18 Best Buy stores and 5 Best Buy Express stores in Mexico.

According to Yahoo! Finance, Best Buy is the largest specialty retailer in the United States consumer electronics retail industry. The company ranked No. 72 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.

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