An unlikely contender emerges in the race to deplete your bank account before the end of the month. On Wednesday, RadioShack's Black Friday ad began making the rounds, claiming that the retailer has "spent the last six months restocking [its] stores" in preparation for the holiday season.
RadioShack's brand will live on. According to The Wall Street Journal, the retailer's label assets have been purchased by Standard General LP, a hedge fund, for $26.2 million. Along with the trademark, other undisclosed intellectual property was also included in the bankruptcy auction, which took place Monday in New York. But what exactly is Standard General LP's vision? It plans to rebuild and rebrand. The firm is reportedly looking to overhaul RadioShack's brand around a "streamlined array of necessities," that are going to be sold alongside wireless products from Sprint. The carrier, of course, has kept close tabs on the electronics chain's Chapter 11 woes. Just last month, it opened its own stores inside existing RadioShack locations, which would otherwise now be defunct.
Via: Business Insider
As expected, RadioShack filed for Chapter 11 bankruptcy today. The electronics store has had 11 unprofitable quarters in a row that apparently even Weird Al and a drone, concept stores and Arduinos couldn't turn around. We've seen many electronics retailers fade out over the last few years, but most don't have a 94-year history behind them. In the immediate future, Reuters reports the company has a deal with its largest shareholder, Standard General to sell between 1,500 and 2,400 of its 4,000 stores. In turn, Sprint has an agreement to expand to about 1,750 of those stores, taking up about one-third of the space. TechCrunch posted a copy of the filing, and right now it's expected that the remaining stores will be closed, assuming the store's lenders approve of the deal -- leaving us with one fewer place to go when need a battery right now.
[Image credit: Joe Raedle/Getty Images]
As is the case each and every year in the United States, this is the time of year we give thanks... and buy lots and lots of stuff. Retailers are gearing up for massive sales on Black Friday this year, and we have already shared the details of some incredible sales. Gadget seekers will find tons of crazy deals at Best Buy this year, of course, but other stores including Target and Walmart have some solid offers on tap as well. Even companies like Microsoft and Verizon are getting in on the action in 2014.
After AT&T, U.S. Cellular and T-Mobile announced pre-order and availability details for their Galaxy S5 versions, RadioShack also revealed its own pre-order details for the handset. Starting with March 21, the retailer will take Galaxy S5 pre-orders in its retail stores, offering buyers $50 off the handset in form of a coupon. Additionally, RadioShack offers $75 to $300 to customers who trade-in old devices when buying the Galaxy S5.
Amazon and other online retailers are slowly bleeding big-box electronics stores to death, a fact made all the more obvious this week when RadioShack announced that it was closing down 1,100 stores. Paul Kedrosky points us to a graph put together by The Financial Times that shows how the total overall footprint for major electronics retailers in the United States has been shrinking for the past several years. The total number of electronics retailers in the U.S. has been on a downward trajectory ever since 2009 when Circuit City liquidated its last outlet. Best Buy and Apple have held mostly steady but the recent RadioShack closings mean that the number of electronics outlets in the U.S. has shrunken dramatically. The Financial Times' graph follows below.
Loyal Engadget readers know that we don't normally trouble ourselves with promotions, but this one is too wild to ignore. Until June 30th, RadioShack is offering the HTC One to AT&T and Sprint customers with an added bonus -- a $100 credit for the Google Play store. Should you elect to sign up with Sprint, you'll basically get away like a bandit since RadioShack has slashed the price of the handset to $79.99 for new activations -- on two-year contracts, of course. After all is said and done, you would basically leave $20 richer than when you started (sort of). So, if you've been lusting after the HTC One but have held off on buying it, the universe might be trying to tell you something.
Via: Phone Arena
Source: Radio Shack
While neither pricing nor availability is certain for the HTC One at this time, a leaked image of signage posted in RadioShack offers some new insight on the HTC One.
Specifically, it seems RadioShack will offer the Sprint and AT&T version of the HTC One will launch for $199 on a two year contract. What differentiates RadioShack from buying the phone from either carrier is the fact that the former will bundle the One with $50 Google Play credit and a $10 off coupon. The $199 price tag listed by RadioShack could end up being the final price point of the One through AT&T and Sprint.
While the $10 off coupon isn’t Earth shattering, it is nice to see RadioShack bundle the product with $50 of Google Play credit. As of now, we expect HTC to launch the One in the United States before the end of April, so stay tuned!
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If you're planning on waltzing into a Target store and picking up a cellphone with a monthly plan, you only have until April 8th to do so. RadioShack, which operates Target Mobile in 1,500 Target stores, has come to an agreement with its fellow retailer to end the relationship, effective April 8, 2013. The duo says they're parting ways on amicable terms since they couldn't strike a new deal -- which they've been hoping to hammer out since October -- that would make the business profitable for each party. For those whose fancies are struck by pay-as-you-go solutions, Target's prepaid mobile business won't be affected by the deal.
Update: Target let us know that Target Mobile will continue offering phones and service past April thanks to a new partnership with Brightstar and MarketSource. Also, the retailer assures us that phone service for existing customers is slated to continue uninterrupted during the transition. Hit the jump for the full press release.
[Image credit: Roadsidepictures, Flickr]