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.