Boston, MA 04/11/2014 (wallstreetpr) – Best Buy Co Inc. (NYSE:BBY) is giving gadgets enthusiast a sneak preview into the yet to be released Samsung Galaxy S5. The device is slated for sale in the coming weeks. Best Buy retail stores across the U.S have already put Galaxy S5, and Galaxy Gear Smartwatches up for display with customers being allowed to play with them. This is a one of a kind strategy, considering devices are usually not made available to customers until they are officially released to the market.
Best Buy Co Inc. (NYSE:BBY) is displaying Galaxy S5 together with Gear 2, Gear 2 Neo and Gear Fit as part of a marketing strategy of driving demand for the gadgets before the official launch date. Gear Fit is a revolutionary device that has specifically been developed for health and fitness markets. Best buy is also running a campaign of offering users $100 for every old Windows XP Laptop that they trade into their stores.
Best Buy Challenges in the Market
After years of turnaround under the leadership of CEO Hubert Joly, Best Buy continues to grapple with a string of challenges that could greatly affect its markets status in the coming months. The electronics retail store continues to struggle with the success of Amazon.com, Inc. (NASDAQ:AMZN), which is its number one competitor.
Trends affecting the Retail Store
The fall in prices of many consumer electronics continues to affect the retail store revenue. The best move in this case would have been diversifying inventory levels to offset the drop in prices, something the retail stores has not yet done.
The rise of Amazon.com, Inc. (NASDAQ:AMZN) that has become customer’s cup of coffee, continues to hurt the company’s bottom line. E-commerce business continues to pick up in the world of extensive development of hand held devices of which Amazon is the kingpin.
Best Buy Co Inc. (NYSE:BBY)’s shares slumped on Thursday trading session by 4.20% closing the day at a low of $26.21.
