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Best Buy to shut 250 mobile phone stores


Best Buy to shut 250 mobile phone stores

New Delhi, Mar 02 (ANI): Best Buy will shut down 250 small mobile phone stores in U.S. malls May 31 onwards.

The company's CEO told employees the mobile phone business has matured, margins have shrunk, and costs at its mobile stores are higher than at its big box stores. The phone stores made up just over 1 percent of overall revenue.

The U.S.' largest consumer electronics retailer will continue to sell mobile phones online and through its 1,000 big box stores in the U.S.

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