After posting disappointing results for the nine-week period from November 1 to January 2, Best Buy Co. Inc. (NYSE: BBY) continues to flog big-screen TVs on its website. The company attributed its poor holiday sales to a decline in mobile phones, but touted its “strong performance” in health and wearables, home theater and appliances.
That likely means that sales of its heavily promoted Apple Watch inventory were good and the also heavily promoted TV monitors were strong. So in keeping with the mantra of dancing with the one who brung ya, Best Buy on Thursday is promoting a Sony Corp. (NYSE: SNE) 65-inch, 2160p, smart, 3D, 4k Ultra HD TV (XBR65X900C) for $2,499.99, a discount of nearly 38% from the regular price of $3,999.99.
In addition to the price savings, Best Buy is tossing in free installation and mounting by its Geek Squad, a $249.98 value, according to the company, as well as free shipping on the mount and free delivery on the TV. The same offer is available on any Sony or LG Electronics 4K Ultra HD TV that measures 55-inches or more.
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And to push out more phones, Best Buy is offering a weekly special (ending Saturday) on an iPhone 6s or 6s Plus from Apple Inc. (NASDAQ: AAPL). Trade in your old, working iPhone and get up a Best Buy gift card valued at up to $200. Unless we’re missing something, an iPhone 6s in rose gold with 16 GB of memory sells for $199.99 with a two-year contract from Verizon. The same device unlocked carries a price tag of $699.99.
The bad holiday sales news took the stock down nearly 12% Thursday morning, to trade at around $25.61, a new 52-week low. The 52-week high is $42.00.
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