Best Buy has big ambitions in China
By Wang Zhenghua (China Daily)Updated: 2006-12-27 10:43 SHANGHAI: North American consumer electronics giant Best Buy yesterday warned its competitors in the Chinese market that it will pursue aggressive growth, aiming to become the sector's top retail er in the shortest possible time.
And at yesterday's opening of Best Buy's Shanghai store, the first on the Chinese mainland, company bosses fired the first salvo in the battle to win the top stop an "extremely competitive" pricing strategy.
With its sights set on China's lucrative consumer electronics market which is worth US$100 billion Best Buy will pursue an expansion strategy focusing on both acquisition s and organic growth.
In addition, Best Buy is not afraid of taking up the cudgels in the intense price wars often besetting China's consumer electronics retail sector.
 Paul Antoniadis, senior vice-president of Best Buy's International Retail Operations, delivers a speech at Best Buy's Shanghai store, December 26, 2006. [newsphoto] 
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"Best Buy is going to have the best price in China," said Paul Antoniadis, senior vice-president of the firm's International Retail Operations.
"We'll be extremely competitive in the market place just like we are in the
United States and Canada."
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