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Best Buy Exits UK, Going Mobile

Posted by Mark J. Miller on November 7, 2011 04:01 PM

Best Buy has decided to pull a $1.3 billion wad out of its pocket and buy out British partner Carphone Warehouse Group Plc “from a profit share of their Best Buy Mobile venture in the United States and Canada, which has been benefiting from soaring demand for smartphones like Apple's iPhone,” according to Reuters.

With the move, it is shutting down its 11 pilot "big box" Best Buy stores in the U.K. to refocus its European strategy on 2,500 profitable small box stores, according to a press release.

As a result, some 1,100 "blue shirts" or employees are facing the dole, according to the Guardian — the same Brits who spent nine weeks training at Best Buy's UK academy and who were the focus of the company's "We Love What We Do" advertising campaign (starring a happy chap called Jack) in the market.Continue reading...

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