HomeIndustryBest Buy selling Five Star stores in China

Best Buy selling Five Star stores in China

best_buy_logoBest Buy announced today they will be selling their Chinese division, Jiangsu Five Star Appliance Co., to a Chinese real estate company for an undisclosed amount. The stores had been struggling in China, in part because of stiff competition and a slumping real estate market. Best Buy says the sale will allow them to focus on U.S operations and their North American business.

The sale of Five Star does not affect products Best Buy manufacturers in China, including brand names such as Dynex, Insignia, Modal, Platinum and Rocketfish.

The sale will first need to be approved by regulators, and is expected to close early in 2016.

Best Buy currently has over 1,400 stores in the United States.

contributor
contributor
HD Report frequently features articles written by guest contributors who are experts in the industry. Our publication is listed in Google News as well as other tech and entertainment forums. If you would like to write a news article, review, or editorial please contact us.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Hot 4k Blu-rays!

Furiosa- A Mad Max Saga 4k Blu-ray
Godzilla | Kong Monsterverse 5-Film Collector's Edition
Dune: Part Two 4k Blu-ray
Dune 2-Movie 4k Blu-ray Collection

Fire HD10 Tablet Deal!

Amazon Fire HD Tablet Sale

OLED 4k TV Deal!

Samsung 65-inch OLED 4k TV

4k/HDR TV Deal

55

New Articles

Support Us!