12 Facts About Best Buy

1. In 2014, Best Buy settled for $4.55 million in a class action lawsuit filed against them in April 2010 by consumers who claimed Best Buy was making unsolicited phone calls in contravention of the Telephone Consumer Protection Act.

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2. Under the Geek Squad brand, Best Buy offers computer repair, warranty service, and accidental service plans.

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3. On July 2, 2018, Best Buy announced it was cutting the amount of store space devoted to selling physical music, citing the popularity of streaming services as having reduced sales.

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4. In December 2011, Best Buy purchased mindSHIFT Technologies, a company that provided IT support for small and medium-sized businesses, for $167 million.

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5. The company closed all UK-based Best Buy stores in November 2011.

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6. The company eventually opened 11 Best Buy stores in the United Kingdom.

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7. In July 2008, Best Buy announced that it would start selling musical instruments and related gear in over 80 of its retail stores, making the company the second-largest musical-instrument distributor in the US.

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8. In October 2007, Best Buy became the first consumer-electronics retailer to exit the analog television market, carrying only digital products that became mandatory in June 2009 by the FCC.

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9. In January 2007, the first Best Buy-branded store in China officially opened in Shanghai, China.

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10. In May 2006, Best Buy acquired a majority interest in Chinese appliance retailer Jiangsu Five Star Appliance for $180 million.

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11. In January 2004, Best Buy hired Virtucom Group to revamp Best Buy's website and handle all of the company's online content.

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12. In 2000, Best Buy formed Redline Entertainment, an independent music label and action-sports video distributor.

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