Wal-Mart Upping Consumer Electronics15 May, 2007 By: Erik Gruenwedel
After posting in April the largest monthly same-store sales drop in 28 years, Wal-Mart Stores Inc. May 14 announced it would significantly upgrade its consumer electronics offerings, including transitioning completely to digital televisions by the end of the month.
The Bentonville, Ark.-based retail behemoth announced it would begin carrying flat panel HDTVs from Irvine, Calif.-based Vizio Inc., in addition to 40+ inch liquid crystal display (LCD) units with 1080p resolution from Polaroid and Royal Philips Electronics for under $500.
Wal-Mart will also start carrying home-theater systems from Sony and Philips.
“Consumers are more technology driven today than ever before and are searching for the right price and products to quickly meet their needs,” said Kevin O'Connor, VP and GM for consumer electronics. “These changes share our focus to help simplify the buying decision by offering sought-after brands with an easier shopping experience.”
The retailer in April reported comparative year gains in entertainment hardware and software, including sales of flat panel sets, to boost monthly revenue $900 million to $26.5 billion, from $25.6 billion last year.