Menu
Home
People
Places
Arts
History
Plants & Animals
Science
Life & Culture
Technology
Reference.org
Best Buy
open-in-new
<p>Best Buy Co., Inc. is an American multinational consumer electronics retailer headquartered in <a href="/facts/Richfield%2c_Minnesota/oXj6TNH0">Richfield, Minnesota</a>. Originally founded by <a href="/facts/Richard_M._Schulze/g324jYVx">Richard M. Schulze</a> and James Wheeler in 1966 as an audio specialty store called Sound of Music, it was rebranded under its current name with an emphasis on consumer electronics in 1983. </p><p>Best Buy operates internationally in Canada, and formerly operated in China until February 2011 (when the faction was merged with Five Star) and in Mexico until December 2020 (due to the effects of the COVID-19 pandemic). The company also operated in Europe until 2012. Its subsidiaries include <a href="/facts/Geek_Squad/Af4QGzly">Geek Squad</a>, Magnolia Audio Video, and <a href="/facts/Pacific_Sales/ByWE8HVU">Pacific Sales</a>. Best Buy also operates the Best Buy Mobile and Insignia brands in North America, plus Five Star in China. Best Buy sells cellular phones from <a href="/facts/Verizon_Wireless/3I3kcgEm">Verizon Wireless</a>, <a href="/facts/AT%2526T_Mobility/2Sln5hLq">AT&T Mobility</a>, <a href="/facts/T-Mobile_US/tRY9PLtF">T-Mobile</a>, <a href="/facts/Boost_Mobile/007nmRrx">Boost Mobile</a> and <a href="/facts/Ting_Mobile/M6cWbGbr">Ting Mobile</a> in the United States. In Canada, carriers include <a href="/facts/Bell_Mobility/nEpcUJHJ">Bell Mobility</a>, <a href="/facts/Rogers_Wireless/R2GH3Hah">Rogers Wireless</a>, <a href="/facts/Telus_Mobility/ljCp0B4H">Telus Mobility</a>, their <a href="/facts/Fighter_brand/ke0Dh0gk">fighter brands</a>, and competing smaller carriers, such as <a href="/facts/SaskTel/8yqqKtA2">SaskTel</a>. </p><p><a href="/facts/Hubert_Joly/UtddSC5L">Hubert Joly</a> is executive chairman of Best Buy, having been succeeded as CEO by Corie Barry in June 2019. According to <a href="/facts/Yahoo!_Finance/bz9CLjnJ">Yahoo! Finance</a>, Best Buy is the largest specialty retailer in the United States <a href="/facts/Consumer_electronics/cJ8g9NXh">consumer electronics</a> retail industry. The company ranked number 72 in the 2018 <a href="/facts/Fortune_500/BLeHWymz"><i>Fortune</i> 500</a> list of the largest United States corporations by total revenue. </p>