RadioShack to stop selling mobile phones in Target stores
Jan 15, 2013 (Fort Worth Star-Telegram - McClatchy-Tribune Information Services via COMTEX) --
RadioShack, the Fort Worth-based consumer electronics chain, said Monday that it will stop selling mobile phones in Target stores in April, ending a three-year partnership.
Instead, Minnesota-based Target said that Brightstar, the world's largest specialized wireless distributor and leading provider of diversified services to the wireless industry; and MarketSource, a provider of integrated sales and marketing services company, will support Target Mobile beginning in April.
In October, RadioShack said it was writing off $25 million on the mobile phone kiosks in 1,500 Target stores and warned that it would exit the business if it couldn't renegotiate its partnership. RadioShack managed Target's postpaid mobility business but not the prepaid mobility business or the wider range of accessories offered in Target stores.
"In order for RadioShack to have continued this relationship, we needed to establish a new agreement that would be financially appealing to both companies," Telvin Jeffries, RadioShack executive vice president, said in a statement. "Ultimately, we amicably agreed to dissolve the relationship."
RadioShack will stop selling in Target stores April 8.
RadioShack began selling mobile phone service in about 100 Target stores in October 2009 and within a year announced the progam's expansion to most Target stores.
This report includes material from The Associated Press.
Sandra Baker, (817) 390-7727
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