Best Buy (NYSE:BBY) saw its shares move higher Wednesday. The chain announced the most significant advancement in TV technology in more than a decade is now available in its stores nationwide.
Through exclusive partnerships with Samsung, Sony, LG, TCL and Hisense, Best Buy is the only national retailer where customers can shop RGB LED TVs and see color and brightness never before possible, from anywhere in the room.
The arrival of RGB LED TV comes at an important moment for customers, as more than 48 million televisions were purchased in 2020.1 With most TVs being replaced every five to seven years, millions of households are beginning to consider their next TV upgrade. To get ready, Best Buy trained and certified more than 15,000 Blue Shirts on the new technology, in partnership with the leading home theater brands.
Best Buy, the release went on, “is also creating a seamless end-to-end experience for customers who buy a new RGB LED TV. Customers will get free delivery and installation, including mounting, as well as free haul-away of their current TV with most RGB LED TV purchases.”
To quote incoming CEO Jason Bonfig, “RGB LED is the biggest leap in TV technology since OLED arrived in 2013. It is not just a spec change — the colors are physically produced differently, and it’s something you’ll notice immediately,”
BBY shares added $2.09, or 2.8%, Wednesday to $77.16.
