Samsung calls Best Buy acquisition reports “not true”

October 7, 2013
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Recent chatter was suggesting that Samsung was considering a deeper relationship with Best Buy. As many are likely aware, Samsung currently has "Experience Shops" in a large amount of Best Buy retail stores. This report, which came courtesy of the Korea Times spoke about how Samsung was considering acquiring a stake in Best Buy.

Well, it looks like Samsung has offered a response to those reports. In short, they have denied the reports calling them "not true." The statement was posted on the official Samsung Tomorrow blog and read as follows;

"In the past few days, there have been reports that 'Samsung is considering to acquire stakes in Best Buy'. Please take note that these rumors are not true.
 
There have been no talks whatsoever regarding stock acquisition of either company."

Short, simple and to the point. Anyway, the original announcement of the Samsung Experience Shops had them coming to 1400 locations. While we have seen the denial from Samsung, that Korea Times report mentioned how Lee Jae-yong, Samsung’s vice chairman “recently met with senior executives at Best Buy and discussed pending business issues.”

It seems the words of focus here are the "pending business issues." Basically, while Samsung has said they are not acquiring a stake in Best Buy, there does appear as if something may be going on. Of course, this could be something as simple as furthering the currently available Experience Shops. Maybe, having some increase in size or having them moved to a better location in particular Best Buy stores.


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