The U.S. electronics retailer Best Buy will reportedly return to the Chinese market by reopening a flagship store in Shanghai before the end of December 2011.

American electronics retailer Best Buy has announced on its official website that it will close all of its nine stores on the Chinese mainland.

According to the information from the headquarters of the Jiangsu-based Five Star Appliance, which was acquired by the American electronics giant Best Buy, the company has signed an agreement with Apple to become its first-tier distributor.

U.S.-based Best Buy has confirmed that it will appoint Yang Deming, president and COO for Best Buy Asia, as president of its newly acquired Jiangsu Five Star Appliance in China.

Chinese electronics retailer Five Star Appliance, a majority owned subsidiary of U.S.-based Best Buy, has restructured its scope of operations by switching to a wholly foreign-owned company business license.

American electronics retailer Best Buy (BBY) plans to cut the number of its new store openings in China this year following an announcement of a 6.8% decline in its profit in the first quarter of the year.

Chinese electrical appliance retailer Five Star Appliance will sign a cooperation agreement with Dell (DELL) to sell the latter's products at its retail stores. With the signing of the agreement, Five Star will become one of the most important partners of Dell in China.