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Samsung Denies it is Looking to Acquire Best Buy

On Friday, we a rumor out of South Korea ‘revealed’ that Samsung was in talks to acquire a stake in Best Buy.  Well, today, Samsung has come out and denied the rumors, instead sending a statement to BGR denying that any meetings took place.

Samsung and Best Buy

News of Samsung buying a stake in Best Buy in the US would have been expected to change the company’s approach to device design, manufacture and sale in the US.  The rumor had mentioned Samsung’s smartphone driven profit as possibly not sustainable in the near future and that the company was looking to buy a stake in Best Buy to diversify and come closer to the US market.

Samsung sent a statement to BGR reading:

“In the past few days, there have been reports that ‘Samsung is considering to acquire stakes in Best Buy’. Please take note that these rumors are not true. There have been no talks whatsoever regarding stock acquisition of either company.”

Well, if you were getting excited or disappointed about the rumor, put that aside.

Source: BGR