Samsung said to be in talks to acquire stake in Best Buy

We learned on Friday that Samsung is set to bring in record profits this quarter, but that analysts do not believe smartphone-driven profit growth will be sustainable in the coming years. In order to counteract increasing market saturation, Samsung might be looking into buying a stake in Best Buy, one of the largest electronics retailers in the United States. Speaking with The Korea Times, Samsung vice chairman Lee Jae-yong said that he “recently met with senior executives at Best Buy and discussed pending business issues.”

This discussion came shortly after reports began circulating that Samsung would be looking to acquire a piece of the struggling retailer. Samsung has already partnered with Best Buy to open “Samsung Experience Shops” that have been rolling out in Best Buy stores all around the country. HMC Securities analyst Kim Young-woo believes that Samsung’s decision to increase the subsidies it pays to Best Buy is “a strategic move to help the retailer and also increase the exposure of its products.”

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