Samsung was previously reported to being interested in buying a stake in Best Buy, but the tech giant shrugged off the rumors by releasing a statement, Sunday.
Samsung Electronics, world's largest smartphone making company, was believed to be interested in buying stock in Best Buy, one of the largest retailers in the world. Samsung had already partnered with Best Buy to introduce 460 square feet "Samsung Experience Shops" across the country. After all, strong market sales of Samsung smartphones actually called for brick and mortar stores for the tech giant where customers could buy products, get service and more.
Samsung mainly relies on its online stores for direct sales of its products. Brand retail outlets like Apple Stores maximize sales through customer interactions, direct help and assistance. Best Buy and Samsung partnership would have led to a beneficial move in promoting the idea of having Samsung retail outlets across the country.
But Samsung released a statement saying the reports of acquiring stakes in Best Buy were not true.
"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," Samsung said in a statement. "There have been no talks whatsoever regarding stock acquisition of either company."
Considering the expanding business for Samsung, it would be wonderful to see a Samsung Store in the future, where customers could walk in with any queries or just to browse.
