The world's leading electronics retailer Best Buy (BBY) has started to sell its self-owned brand LCD TVs in China for the first time and those TVs are only available in Best Buy's stores.
Qian Yan, general manager for Best Buy's public relations in China, said that the retail price for Best Buy's owned brand 42-inch LCD TV was CNY5,999. In addition to the TV products, Best Buy also introduced its self-owned brand portable DVD player, digital photo frame and USB computer speaker into China.
So far, Best Buy has launched five self-owned brands in China, including Rocketfish, Dynex, Init, Geek Squad, and Insignia. These brands cover more than 150 kinds of products such as IT components and digital camera parts.
Compared with their American counterpart, the Chinese electronics retailers like Suning and Gome have not developed any self-owned brands. Fan Zhijun, vice president of Suning, said that Suning did not launch any self-owned brand because it is a retailer and its core competitive power lies in its products distribution and services.
