Best Buy: 3D, connected TVs selling poorly
December 17, 2010
US consumer electronics giant Best Buy’s disappointing third quarter financial numbers have seen the company put much of the blame on poor sales of 3D and Internet-enabled televisions.
The CE retailer has reported quarterly revenue dropped five per cent, compared to last year’s third quarter. TV makers and retail partners had been expecting a slight increase in sales due to the introduction of the new 3D and Net-connected televisions.
“N ewer technologies like 3D and IPTV… have been slower to take hold,” Best Buy CEO Brian Dunn admitted in a conference call with Wall Street analysts.
Dunn, however, remained optimistic that consumers will embrace 3D later on. “I think there was confusion about 3D early. It was a little short on content… More and more cinematic releases are coming out in 3D. I think 3D will become top of mind as an important feature for television as we get into next year,” he commented.