Lv Weimin, senior vice president and chairman of Best Buy (BBY) China, has disclosed to media that Best Buy will soon open its second store in Shanghai, but he has not talked about the location or other details of the new store.

Best Buy is rumored to be currently busy preparing for the opening of the new store which will be located in a busy business area of the Puxi area of Shanghai.

In June this year, Yang Deming, president and COO of Best Busy Asia, said that Best Buy would open two more stores in Shanghai before March 2008 and would increase its total stores in China to 6-8 in the coming 18 months.

As the largest consumer electronics supplier, Best Buy has advantages in electronics like computer and digital products, but it seems to be facing fierce competition in China when Chinese electronic retailers like Suning and Gome are vigorously expanding in the market.