MINNEAPOLIS--(BUSINESS WIRE)--Best Buy Mobile, the mobile specialty retail unit of Best Buy Co. Inc (NYSE: BBY), today announced that it is giving consumers another reason to try the new Buy Back Program by extending the offer to “future proof” smart phone purchases for free through Feb. 26 in all Best Buy and Best Buy Mobile standalone stores across the country. As part of this special two-week offer, customers can also receive the Buy Back Program at no cost when purchasing tablets, including the Apple iPad, at Best Buy Mobile standalone stores.
“Best Buy has seen a great initial response to the Buy Back Program overall, and heard from nearly half of our customers that the main reason they replace their mobile phones or tablets in particular is to keep up with technology1,” said Shawn Score, president of Best Buy Mobile. “That’s why we’re providing the Buy Back Program free of charge on mobile phones and tablets now through Feb. 26, right on the heels of pre-sale and in-store availability of highly anticipated devices like the HTC Thunderbolt and iPhone 4 on Verizon Wireless.”
The Buy Back Program can be purchased by customers when buying a new product at Best Buy and redeemed at a later time for up to 50 percent of the original purchase price paid in the form of a Best Buy gift card, as long as the device is in good working condition and includes all original parts. For mobile phone purchases, customers receive the percentage back of the original retail price, prior to any specific carrier-based rebates. So if a customer buys a Nexus S and decides to upgrade in five months, they would get up to half of the $530 original retail price, or up to $265 back, to use towards their next smart phone purchase.
The Buy Back Program from Best Buy differs from other trade-in options or reseller markets by offering an unmatched level of assurance, transparency and convenience. With Buy Back, Best Buy customers don’t have to wait for payment, know exactly what they’ll be paid up front for an item in good condition with all parts and accessories, and can immediately apply the value of their Buy Back product redemption to the purchase of new products at any Best Buy or Best Buy Mobile store.
Best Buy Mobile rapidly has become a leading destination for mobile technology purchases with the most smart phones under one roof, and one of the largest selections of carriers, handsets and accessories available anywhere. In addition, Best Buy Mobile offers an array of services aimed at improving the mobile phone buying experience, including Walk Out Working, Upgrade Checker, and Happy24.
About Best Buy Mobile
Best Buy Mobile was founded in 2006 with a goal of changing the way consumers shop for and purchase mobile phones in America. Today, Best Buy Mobile is in every Best Buy store and also has 159 Best Buy Mobile specialty stores around the country. Best Mobile features one of the largest selections of carriers, handsets and accessories available anywhere. Employees undergo at least 80 hours of intensive training, as well as continuing education on mobile phone technology and trends to help customers get the most of their mobile phones. For more information about Best Buy Mobile visit www.bestbuy.com/mobile or www.bestbuymobile.com.
About Best Buy Co., Inc.
With operations in the United States, Canada, Europe, China, Mexico and Turkey, Best Buy is a multinational retailer of technology and entertainment products and services with a commitment to growth and innovation. The Best Buy family of brands and partnerships collectively generates more than $49 billion in annual revenue and includes brands such as Best Buy; Best Buy Mobile; Audiovisions; The Carphone Warehouse; Future Shop; Geek Squad, Jiangsu Five Star; Magnolia Audio Video; Napster; Pacific Sales; and The Phone House. Approximately 180,000 employees apply their talents to help bring the benefits of these brands to life for customers through retail locations, multiple call centers and Web sites, in-home solutions, product delivery and activities in our communities. Community partnership is central to the way we do business at Best Buy. In fiscal 2010, we donated a combined $25.2 million to improve the vitality of the communities where our employees and customers live and work. For more information about Best Buy, visit www.bestbuy.com
1 According to online survey conducted by Best Buy January 28-31, 2011 among a general pop sample of technology users age 18+