Guess you'll be waiting a while. Their most recent quarter they had almost $9B in sales and ~$210M profit.
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Is Best Buy greedy as heck?
- Thread starter Avenger
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Guess you'll be waiting a while. Their most recent quarter they had almost $9B in sales and ~$210M profit.
Applejuiced
macrumors Westmere
Yes, in the past they always did as long as you asked for it.
Not sure if they're doing it now with the iPhone X.
I heard some people claim that they will not be lowering or price matching for this phone.
macfacts
macrumors 603
Att must have hidden that web page, I can only find the page that sells it on 2 yr contract.
https://m.att.com/shopmobile/cellphones/iphone/apple-iphone-x/_jcr_content.html?referrer=
And since att is the one selling it with a plan, they are the ones that get the "commission".
KingslayerG5
Suspended
I don't totally hate Best Buy. I used to buy DVDs from them. I remember getting DVDs for Fanboys and Zack & Miri for only $3 on a Black Friday, 2009. I got DVD boxset of Back To The Future (2002), Indiana Jones (2003), and Star Wars (2004) on their release days. Then of course the iPhone 4 launch day picking it up from Best Buy was so seamless for me.
Best Buy was cool back in the previous decade when physical media like movies and games still mattered. Then I learned how to download from torrent sites with torrent apps on my Androids back in mid-2015 and it completely changed my habits going to any retailer.
Bought some external hard drives and was good to go. Never needed to buy a physical media of a movie or TV show ever again. If Best Buy can honor my pre-order and I could get the iPhone X this month, I won't totally hate them. I actually used BB to sign up for Sprint earlier this year.
I thank all the Best Buy backlash! Thank you, everybody! I couldn't afford paying that $1200 iPhone X in whole sum after realizing my credit cards are nearly maxed out. BB took out that greedy $100 extra charge and I can now do installments signing up with Verizon. Sometimes whining on the Internet benefits me! I never had issues with Antennagate on my launch day iPhone 4 and still got a free TPU case for it!
Thanks, whiners! YOU RULE! 😉
Best Buy was cool back in the previous decade when physical media like movies and games still mattered. Then I learned how to download from torrent sites with torrent apps on my Androids back in mid-2015 and it completely changed my habits going to any retailer.
Bought some external hard drives and was good to go. Never needed to buy a physical media of a movie or TV show ever again. If Best Buy can honor my pre-order and I could get the iPhone X this month, I won't totally hate them. I actually used BB to sign up for Sprint earlier this year.
I thank all the Best Buy backlash! Thank you, everybody! I couldn't afford paying that $1200 iPhone X in whole sum after realizing my credit cards are nearly maxed out. BB took out that greedy $100 extra charge and I can now do installments signing up with Verizon. Sometimes whining on the Internet benefits me! I never had issues with Antennagate on my launch day iPhone 4 and still got a free TPU case for it!
Thanks, whiners! YOU RULE! 😉
If you go through the process of upgrading or whatever, there is an "Other Pricing Options" button that becomes visible and you can buy at full price.
Chupa Chupa
macrumors G5
If they are selling the iPhone at "break even" they need to find a better distributor. Truth is they do make profit selling at full price just not as much if they get the kickback. I don't really have a problem with it. Their business model is their business model. But they shouldn't put on airs they are (were) doing a valuable community service selling iPhones full price like their press releases were written.
KingslayerG5
Suspended
I sometimes do visit Best Buy out of boredom whether in Orange (near The Village) and Yorba Linda just to check out phones once in awhile or check if any Nintendo Switch is in stock.
I talk to some cool people in each store. I bought my entire Game of Thrones Mystery Minis Series 3 from the Orange store. Huge Bronn and Tormund fan even though I'm the Kingslayer. 😉
My boys -
Bronn
Tormund (aka Justin Turner)
Tyrion (sup, lil bro?)
Jorah (Ser Friendzone)
Night King
I am actually going to Best Buy in about an hour and ask them if they will still honor my iPhone X pre-order after their recent backlash of eliminating the $100 surcharge and buying the X outright.
Available: November 10
I'm #17 pre-order and BB employee told I have a very good chance getting the X this weekend. All depends if they can honor my pre-order # and if they have at least 17 in stock this weekend. Possible 2 for 2 getting a launch day iPhone from Best Buy! That Yorba Linda Store is pretty empty anyway. If they can honor it.. hallelujah hallelujah!
https://media.giphy.com/media/YOL1vhhrRyi0o/source.gif
^ I told ya I like dressing up like a "ninja". 😉
Help me, Best Buy. You're my only hope...
I talk to some cool people in each store. I bought my entire Game of Thrones Mystery Minis Series 3 from the Orange store. Huge Bronn and Tormund fan even though I'm the Kingslayer. 😉
My boys -
Bronn
Tormund (aka Justin Turner)
Tyrion (sup, lil bro?)
Jorah (Ser Friendzone)
Night King
I am actually going to Best Buy in about an hour and ask them if they will still honor my iPhone X pre-order after their recent backlash of eliminating the $100 surcharge and buying the X outright.
Available: November 10
I'm #17 pre-order and BB employee told I have a very good chance getting the X this weekend. All depends if they can honor my pre-order # and if they have at least 17 in stock this weekend. Possible 2 for 2 getting a launch day iPhone from Best Buy! That Yorba Linda Store is pretty empty anyway. If they can honor it.. hallelujah hallelujah!
https://media.giphy.com/media/YOL1vhhrRyi0o/source.gif
^ I told ya I like dressing up like a "ninja". 😉
Help me, Best Buy. You're my only hope...
This argument gets my goose everytime. B2C organizations need to keep their costumers in mind if they want to stay profitable. Being accountable only to shareholders and losing sight of customers sunk many a company. Shareholders and ship at the first whiff of trouble, and that only starts with anti-customer behavior.
Acting in the best interests of the shareholder isn't mutually exclusive with treating their customers well. I'd argue there is a high degree of correlation between the two. But if Best Buy is able to charge an extra $100 to pad their bottom line, why shouldn't they?
Apple certainly charges a premium for their products - and customers, in the millions, continue to hand their money over to Apple.
myscrnnm
macrumors 68000
Except if I were a Best Buy shareholder, I would rather they sell a thousand iPhones at retail than none at $1,000 over. They are a retailer, and no one is going to pay those inflated prices. They need to be smart enough to realize they don't have the same leverage as the average scalper on Craigslist.
No, I think what they did was fine. Supply & demand. You could argue that Apple is greedy as heck. Both are just trying to keep shareholders happy and one (BB) is just trying to stay in business.
Well, if they sell 1000 iPhones at MSRP, they may make no profit. However, if they sell 1 iPhone at $1000 above MSRP, they may be able to make a profit. As a shareholder, you’d be kicking Best Buy in the first scenario.
Either way like I mentioned in another post above, treating your customers well and acting in the best interests of the shareholder are not mutually exclusive. However, Best Buy has no obligation to the consumer under the law... but they do owe it to the shareholder to maximize their return. Apple is just as greedy as Best Buy, except Apple has made you feel good to give them all that money.
Best Buy is in the business of overcharing to stay afloat nowdays. Go check the prices of their Insignia cables nowdays... they are marked up by 250% on comparable or higher quality online. Think they have basically chosen to nickle and dime people in certain areas to keep going.
You are right, but Apple can charge what they want because they are creating a product, they are creating value. All BB does is move product from one side to another.
macfacts
macrumors 603
The $100 premium is to not sell them at $100 extra, its purpose is to keep stock for buyers signing up on a 2yr plan (to get commission). If someone wants to buy at full price +$100, why not.
Sigh. They are there to make money. Doesn’t matter if they are selling a product someone else manufactured. Best Buy, is this case, is creating value for those that are willing to pay an extra $100 for an iPhone. May not be value to you, but it is value to someone.
Free market and capitalism.
Best Buy can charge whatever they want to charge. Up to the consumer to decide whether they are willing to pay that amount.
https://medium.com/bull-market/there-is-no-effective-fiduciary-duty-to-maximize-profits-939ae50d0572
https://www.nytimes.com/roomfordeba...rs/corporations-dont-have-to-maximize-profits
Even if it were a legal obligation for a publicly traded company to maximize profits for their shareholders, there is no definitive method for doing so. It can easily be argued that pricing a product higher than your competition, in a highly competitive market, with no clear rationale for doing so, could result in lost sales and therefore lower profits. Not only on the product in question, but on everything else the company sells, due to its effects on consumer opinion and trust in the company. The haphazard, short-sighted assumption that a publicly traded company is both justified and potentially legally obligated to maximize profits at all costs completely neglects the fact that the customers have (or at least in the absence of monopolies) the final say in where their money ends up.
JayIsAwesome
macrumors 68000
That fact that this post is on an apple site is ironically hilarious lmao
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And they add the 100 dollars b/c the margin on iPhones is absolute trash. Like I said before, it's nothing personal. It's just business.
Yeah they have been doing this for a while now. Plus they are in business to make money. I read they just lowered it to selling it at cost on carrier plans. Capitalism worked as they heard their customers and changed their minds. I think they should only charge Patriots fans more
Applejuiced
macrumors Westmere
Lol 😀
I love this saying they're in the business to make money. I guess they think customers are pretty stupid and wont notice that they are ripping them off.
Every other retailer sells it for a certain amount and BestBuy is the only one charging $100 more just because.
Who else was overpriced like that back in the day and went belly up? Circuit City I think.