Report: Best Buy may sell Chinese business

Minneapolis – Best Buy Inc. is reportedly considering selling off its Chinese business or finding a partner to help operate it. According to the Wall Street Journal, Best Buy is working with Bank of America Merrill Lynch to examine its options in China.

Best Buy’s operations in China may be worth as much as $300 million in a sale. Best Buy entered the Chinese market in 2006, but has had difficulty establishing itself against local competitors. The retailer sold its ownership in European electronics retailer Carphone Warehouse in 2013. Best Buy did not comment on the report.

 

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