This little tidbit of technology news is brought to you by the New York Post… stop laughing. The Post is reporting that technology retailer RadioShack — or “The Shack” as hipsters now say — is looking for a potential buyer — a transaction that could total over $3 billion. The speculation is due in large part to the influx of wireless devices into the market, an influx that one analyst says, “has bruised RadioShack’s profits in the past.” Last year RadioShack went through a series of downsizing measures to stay profitable, laying off thousands of workers. The story isn’t all doom and gloom however. The Shack, despite its stagnant sales, has over $900 million in cash reserves and continues to trade around $22/share (as of article publishing). Analysts also speculate that if RS chooses not to sell, or there are no buyers, the $900 million could be used for a large common stock buy back or acquisition to try and make its retail chain more relevant. Here’s our idea: RadioShack, partner with Google, HTC, Apple, Samsung, and anyone else who wants to party; sell mid-range and/or premium mobile devices, unlocked, directly to consumers. We’d be the first in line.
Category: Tech News
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Blackberry addict, love testing new themes and apps. Volunteer fireman, New Jersey Devils fan.