Best Buy has divested its home appliance unit in China, Five Star Appliance, as the retailer officially pulls out of the country after shutting down nine outlets in 2011.
The US retailer said in a statement on Thursday that it had sold Five Star to Zhejiang Jiayuan Real Estate Group, without giving details.
Five Star currently has 184 outlets in China. The deal is expected to be completed in the first quarter of next year, pending regulatory approval. Best Buy will also sell its property in Xujiahui area in downtown Shanghai next year.
Korea’s home appliances company Cuckoo Electronics Co. Ltd. recently opened its second branded shop in Vietnam.
The store is located in Hanoi Trung Hoa, a high-density residential city as well as a hub of business, administration, commerce, industry, culture and education.
The company’s first shop in Vietnam opened in July in Phu My Hung, Ho Chi Minh City.
A 67 percent increase in consumer goods sales – attributed to the release of new iPhone models – helped nudge overall retail figures up 1.4 percent year-on-year in October but the government blamed the Occupy movement for a dip in several sectors.
India was the fastest growing market in Asia-Pacific for smartphones with a quarter-on-quarter growth of 27 percent in the third quarter of 2014. Research firm IDC said the growth can be attributed to the high festive demand.
IDC Asia-Pacific Quarterly Mobile Phone Tracker shows that the overall mobile phone market stood at 72.5 million units during the quarter, which is a 15 percent quarter-on-quarter growth and a 9 percent year-on-year growth.
The hue and cry over Flipkart's Big Billion Day Sale last month has prompted consumer electronic companies to take safeguards against deep discounting. LG, Samsung, Videocon, Sony and Panasonic have instructed their trade partners that products sold through online marketplaces without their knowledge during flash sales will not get the benefit of after-sale service and warranties.
The Power Mac Center, an Apple's Authorized Education Reseller is collaborating with De La Salle University (DLSU) through opportunities that deliver a complete Apple experience to a wider audience.
With a store inside the DLSU campus, it gives convenient access to Apple technology and promotes a technology-empowered education system.
Power Mac Center Marketing Director Joey Alvarez said it is keen on helping educational institutions such as De La Salle University build their capabilities in this era of technology.
Xiaomi is now the number three smartphone vendor in the world, next to Samsung (no. 1) and Apple (no. 2), research firm IDC reported recently.
The research firm said the company's focus on China and adjacent markets resulted in triple-digit year-over-year growth. Key to its success was the launch of its Mi4 smartphone in August, which was positioned as a high-end alternative to the status quo.
HTC expects its revenues to grow 2.6-12.2 percent sequentially to TWD$43-47 billion (USD1.41-USD1.54 billion) in the fourth quarter of 2014.
Harvey Norman's sales have grown in the three months to September, driving a 24 percent rise in pre-tax profit.
The retailer's sales totalled AUD1.41 billion in the first quarter of the financial year, up 3.2 percent on the same period a year ago.
Like-for-like sales, which exclude the impact of new stores and closures, were up 3.4 percent from a year ago.
Japanese e-commerce giant Rakuten Inc said it will offer a cut-rate smartphone service for about a third of the monthly fees charged by the country's three dominant operators, adding to increasing price competition in the sector.
Japan's smartphone services for light users are particularly expensive compared with other developed markets, prompting Rakuten and other firms such as retail giant Aeon and Internet Initiative Japan to offer new services by pairing with or becoming mobile virtual network operators (MVNOs).