Best Buy to Open Samsung Mini Stores

By Evan Niu, CFA – Apr 4, 2013 at 12:32PM

NYSE: BBY

Best Buy

Market Cap

$16B

Today's Change

(-0.81%) -$0.61

Current Price

$74.43

Price as of April 24, 2024, 4:00 p.m. ET

Samsung prepares to open new mini stores within Best Buy locations, further encroaching on Apple.

Big-box electronics retailer Best Buy (BBY -0.81%) and South Korean conglomerate Samsung have announced new Samsung Experience Shops that will be set up within selected Best Buy locations. The new mini stores will be set up inside more than 1,400 Best Buy and Best Buy Mobile specialty stores starting this month. The companies estimate that 900 locations will be completed by early May.

Samsung will display a wide range of its products, including smartphones, tablets, laptops, and cameras, among others. Specialized Samsung Experience Consultants will also be on hand to educate prospective buyers. The expansion will be another area where Samsung will compete directly with Apple, as the Mac maker has long had similar mini stores set up within Best Buy locations.

Best Buy retail head Shawn Score said the partnership was part of the company's Renew Blue transformation strategy.

Fool contributor Evan Niu, CFA, owns shares of Apple. The Motley Fool recommends and owns shares of Apple. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.