Consumer Electronics

Fry’s Electronics Corporate Office

Fry’s Electronics was founded in 1985 by Charles Fry, Randy Fry, and David Fry after father Charles Fry sold his Fry’s supermarket chain. The company is a super big box retailer of consumer electronics, household appliances, car audio, computer software and hardware. Fry’s Electronics, frequently referred to as simply “Fry’s”, offers in-store computer repair, car audio installation, as well as custom built computers.

Fry’s has more than 14,000 employees and had $2 billion in revenue in 2014. The original store was located in Sunnyvale, California, and the company now has more than 34 stores in 9 states.

Fry’s stores are enormous in size and often have decorating “themes”. The store in Phoenix, Arizona, for example, has an Aztec theme, while the Palo Alto, California, store has a Wild West theme.

Fry's Electronics

Fry’s has more than 14,000 employees and had $2 billion in revenue in 2014. The original store was located in Sunnyvale, California, and the company now has more than 34 stores in 9 states.

History

FITBIT Corporate Office

FITBIT was founded by current-CEO James Park and Current-CTO Eric Friedman in 2007 with the aim to create a wearable product that would change the way we move.

The company designs, produces, and markets devices that track fitness performance. Popular models track the number of steps taken per day with a device worn on the wrist that resembles a watch or bracelet. Data measured include also the quality of sleep, steps climbed, and other personal metrics.

FITBIT has offices in San Francisco, Boston, Dublin, Hong Kong, Shanghai, Seoul, Minsk, New Delhi, and Tokyo.

The company filed for an IPO in May 2015 for $100 million and can be found on the NYSE under the ticker symbol: FIT

In January 2017, Fitbit acquired Romania-based smartwatch startup Vector Watch SRL for $15 million.

In April 2017, a female customer claimed her Fitbit Flex 2 malfunctioned and caught on fire, causing second-degree burns on her arm. Following an investigation, FitBit states that the cause of the exploding tracker was due to external forces, and assured its customers that their products are safe to wear.

In 2018, a Fitbit device was used to help solve a murder.

The company released its Fitbit Ionic smartwatch in October 2017 for $300.

In 2019, the company announced its first business to business product, the Inspire, which is only available through employers who offer health insurance.

Google acquired Fitbit in January 2021.

FITBIT is #53 in the 2015 Inc. 5000 list of Fastest-Growing Private Companies in America with a three-year growth rate of 5,075%. The company has 1,694 global employees and had $1.42 billion in revenue in 2019.

FITBIT

FITBIT was founded by current-CEO James Park and Current-CTO Eric Friedman in 2007 with the aim to create a wearable product that would change the way we move.

History

FITBIT has offices in San Francisco, Boston, Dublin, Hong Kong, Shanghai, Seoul, Minsk, New Delhi, and Tokyo.

The company filed for an IPO in May 2015 for $100 million and can be found on the NYSE under the ticker symbol: FIT

In January 2017, Fitbit acquired Romania-based smartwatch startup Vector Watch SRL for $15 million.

In 2018, a Fitbit device was used to help solve a murder.

The company released its Fitbit Ionic smartwatch in October 2017 for $300.

In 2019, the company announced its first business to business product, the Inspire, which is only available through employers who offer health insurance.

Google acquired Fitbit in January 2021.

Samsung Corporate Office

Lee Byung-chul founded Samsung as a small trading company in 1938 in Seoul, South Korea.

Throughout the next thirty years, Samsung diversified into several different areas, including retail, securities, insurance, textiles, and food processing.

In the late 1960s, it entered the electronics industry and ten years later the shipbuilding industry. These last two industries would prove to be its largest growth industries.

Samsung started to globalize in the 1990s and electronics have become its principal income source.

Samsung now has several large subsidiaries, most notably Samsung Electronics, the world’s largest information technology company, Samsung Heavy Industries, which is the world’s second-largest shipbuilder, and Samsung Engineering, which is the world’s 13th largest construction company.

Samsung had $170.65 billion in revenue in 2015, as well as employing almost 400,000 people.

The company has recently experienced severe problems with their Galaxy Note 7 mobile phones. Numerous complaints about the phone catching fire while recharging the battery caused the company to issue replacement phones. However, in early October of 2016, the company announced that it had not only stopped sending replacement phones due to continued fire issues but that they have stopped production of this popular model altogether until they resolve the issue.

No comment from the company as to when the issue might be resolved or what they plan to do with the millions of phones already sold.

The company has also received thousands of complaints regarding ice maker and freezer problems with a variety of refrigerator models. There is currently a class-action lawsuit over this matter since Samsung has been unresponsive.

Samsung headquarters in the US are located in Ridgefield Park, New Jersey.

Samsung

Lee Byung-chul founded Samsung as a small trading company in 1938 in Seoul, South Korea.

Throughout the next thirty years, Samsung diversified into several different areas, including retail, securities, insurance, textiles, and food processing.

History

In the late 1960s, it entered the electronics industry and ten years later the shipbuilding industry. These last two industries would prove to be its largest growth industries.

Samsung started to globalize in the 1990s and electronics have become its principal income source.

Samsung had $170.65 billion in revenue in 2015, as well as employing almost 400,000 people.

No comment from the company as to when the issue might be resolved or what they plan to do with the millions of phones already sold.

Samsung headquarters in the US are located in Ridgefield Park, New Jersey.

hhgregg Corporate Office

hhgregg, also known as Gregg Appliances, was founded in 1955 in Indianapolis, Indiana by Henry Harold Gregg and his wife Fansy. They initially sold home appliances but soon expanded to televisions and other electronics.

In 1971, a second store was opened in Kokomo. A third store was opened the same year on the south side of Indianapolis. In 1973, a fourth store opened in Anderson.

In 1975, Jerry W. Throgmartin began working at his grandfather’s company in middle school. He eventually became CEO of hhgregg.

In 1984, the company purchased Famous State Sales out of Nashville. This was their first expansion outside Indiana.

Dennis May succeeded Throgmartin as CEO in 2009.

In 2004, the company opened Fine Lines, a chain of stores that carries premium appliance brands.

In 2007, the company went public on the NYSE under symbol HGG.

Today, hhgregg operates over 200 stores in 18 states.

The Company filed for bankruptcy and closed all locations in April of 2017. It is unknown at this time if they will reopen.

hhgregg

In 1971, a second store was opened in Kokomo. A third store was opened the same year on the south side of Indianapolis. In 1973, a fourth store opened in Anderson.

In 1975, Jerry W. Throgmartin began working at his grandfather’s company in middle school. He eventually became CEO of hhgregg.

History

In 1984, the company purchased Famous State Sales out of Nashville. This was their first expansion outside Indiana.

Dennis May succeeded Throgmartin as CEO in 2009.

In 2004, the company opened Fine Lines, a chain of stores that carries premium appliance brands.

In 2007, the company went public on the NYSE under symbol HGG.

Today, hhgregg operates over 200 stores in 18 states.

The Company filed for bankruptcy and closed all locations in April of 2017. It is unknown at this time if they will reopen.

Best Buy Corporate Office

Originally founded in 1966 under the name Sound of Music by Richard Schulze and Gary Smoliak. Located in Saint Paul, Minnesota, the store focused on specialty audio equipment.

By 1969, the company had 3 locations and was listed on the NASDAQ. There were 9 locations by 1978.

In 1981, the Roseville, Minnesota location, which at the time the largest and most profitable Sound of Music store, was hit by a tornado. The store’s roof was sheared off and showroom destroyed, but the storeroom was untouched. In response, Schulze decided to have a “Tornado Sale” of damaged and excess stock. The sale was held in the damaged store’s parking lot. He poured the remainder of his marketing budget into advertising the sale, promising “best buys” on everything. The company made more money during that four-day sale than it did in a typical month.

So, in 1983, the company’s name was changed to Best Buy and the first superstore was opened in Burnsville, Minnesota. With annual revenue in the $10 million dollar range, the company decided to expand into home appliances and “new” electronics, such as VCR’s.

In 1985, the company went public on the NYSE under the ticker symbol: BBY. The company expanded quickly in the US during the late 80s and 90s. In 1992, the company reached $1 billion in sales.

In 2003, there were 600 Best Buy stores nationwide and the company began to expand internationally.

In 2008, the chain opened its 1000th location in the Mall of America.

In 2012, the company was on the verge of bankruptcy, losing sales to online giant Amazon, until new CEO Hubert Joly introduced a price match guarantee. This turned the company around since many consumers were happy to not only receive the same price as what was offered on Amazon, but they could take their product home the same day.

In early 2014, the company settled for $4.55 million in a class action lawsuit filed against them in April 2010 by consumers who claimed Best Buy was making unsolicited phone calls in contravention of the Telephone Consumer Protection Act.

On March 1, 2018, the company announced that it would shut down its 250 standalone Best Buy Mobile stores in the US by the end of May, due to low revenue.

In September 2019, a family filed a lawsuit against Best Buy and their delivery companies after an elderly woman was beaten, set on fire, and died by a person delivering a washer and dryer.

Today, there are over 1026 locations worldwide. Annual revenue in 2017 was $42.151 billion. The Best Buy corporate office is located in Richfield, Minnesota.

Best Buy

Originally founded in 1966 under the name Sound of Music by Richard Schulze and Gary Smoliak. Located in Saint Paul, Minnesota, the store focused on specialty audio equipment.

History

By 1969, the company had 3 locations and was listed on the NASDAQ. There were 9 locations by 1978.

In 1985, the company went public on the NYSE under the ticker symbol: BBY. The company expanded quickly in the US during the late 80s and 90s. In 1992, the company reached $1 billion in sales.

In 2003, there were 600 Best Buy stores nationwide and the company began to expand internationally.

In 2008, the chain opened its 1000th location in the Mall of America.

On March 1, 2018, the company announced that it would shut down its 250 standalone Best Buy Mobile stores in the US by the end of May, due to low revenue.

In September 2019, a family filed a lawsuit against Best Buy and their delivery companies after an elderly woman was beaten, set on fire, and died by a person delivering a washer and dryer.

Today, there are over 1026 locations worldwide. Annual revenue in 2017 was $42.151 billion. The Best Buy corporate office is located in Richfield, Minnesota.