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(From SinoCast China IT Watch)
SHANGHAI, April 13, SinoCast -- It is said recently that Best Buy Co., Inc. will acquire a stake in its Chinese counterpart Five Star Appliance, which indicates the world's largest consumer electronics retailer is about to make presence in the Chinese market formally.
The Chinese home appliance market is evaluated at CNY 500 billion, and the sales of China's home appliance retailers amount to CNY 100 billion, only 25% of the overall market volume. This shows that there is still great potential in the market, which brings about opportunity for foreign home appliance distributors to share the big pie.
Perhaps sensing the …