Best Buy Complains About Walmart's iPhone 5 Holiday Sale, Claims $65,000 Profit Loss in One Day
The Wall Street Journal notes that several retailers including Best Buy and Toys "R" Us have complained to attorneys general in a handful of states about advertising practices of Walmart. Generally, the complaints stem from comparison ads by Walmart in which competitors assert that Walmart is using inaccurate pricing or non-equivalent items to claim that it offers the lowest pricing.
But Best Buy also alleges that Walmart was deceptive with its iPhone 5 holiday sale in which it dropped pricing to $127, although the article quotes $150 pricing.
Best Buy said it lost about $65,000 in profit the day Wal-Mart's promotion first ran on Facebook, because it was compelled to match Wal-Mart's advertised $150 price, even though it concluded that Wal-Mart didn't actually have a sufficient number of iPhones available.
Walmart claims that it did have sufficient stock of the iPhone 5, quoting 98% availability at its stores carrying the device. Walmart had noted as the sale launched that it was working closely with Apple on the promotion and was securing significant numbers of iPhones, but that the sale was first-come, first-served with no rain checks offered at stores where the device was out of stock.
Best Buy had already been selling the iPhone 5 for $149.99 when Walmart announced its own sale, but it is unclear if Best Buy used the $73 difference from regular price or $23 difference from Best Buy's sale price in calculating its profit loss. Assuming the latter, Best Buy would have price matched on approximately 2800 iPhone 5 sales in one day.
Popular Stories
Wednesday November 30, 2022 10:09 am PST by
Juli CloverApple today released iOS 16.1.2, another minor bug fix update that comes one week after the release of iOS 16.1.1 and three weeks after the launch of iOS 16.1, an update that added support for iCloud Shared Photo Library, Matter, Live Activities, and more.
The iOS 16.1.2 update can be downloaded on eligible iPhones over-the-air by going to Settings > General > Software Update.
According...
With the launch of iOS 16.1, Apple rolled out a Emergency SOS via Satellite, which is designed to allow iPhone 14 owners to contact emergency services using satellite connectivity when no cellular or WiFi connection is available. The feature was put to the test in Alaska today, when a man became stranded in a rural area. In the early hours of the morning on December 1, Alaska State Troopers ...
Apple plans to publicly release iOS 16.2 for the iPhone in mid-December, according to Bloomberg's Mark Gurman. The update remains in beta testing for now, with at least eight new features and changes already uncovered so far.
iOS 16.2 introduces a number of new features, including Apple's new whiteboard app Freeform, two new Lock Screen widgets for Sleep and Medications, the ability to hide...
An unnamed 27-year-old man who purchased 300 iPhones from Apple Fifth Avenue on Monday morning was robbed shortly after leaving the store, according to 1010Wins Radio in New York.
He was carrying 300 iPhone 13s in three bags and walking to his car at 1:45 a.m. when another car pulled up next to him. Two men jumped out and demanded that he hand over the bags. Not wanting to hand over 300...
Wednesday November 30, 2022 2:39 am PST by
Sami FathiGeekbench scores allegedly for the upcoming "M2 Max" chip have surfaced online, offering a closer look at the performance levels and specific details of the forthcoming Apple silicon processor.
The Geekbench results, first spotted on Twitter, are for a Mac configuration of with the M2 Max chip, a 12-core CPU, and 96GB of memory. The Mac listed has an identifier "Mac14,6," which could be...
Do-it-yourself repair website iFixit today shared a video teardown of Apple's new 10th-generation iPad, providing a closer look inside the tablet and revealing why the device lacks support for the second-generation Apple Pencil.
The teardown reveals the internal layout of the iPad, including its two-cell 7,606 mAh battery, logic board with the A14 Bionic chip, and more.
As suspected, the...
Wednesday November 30, 2022 12:43 pm PST by
Juli CloverTwitter CEO Elon Musk today met with Apple CEO Tim Cook at the Apple Park campus in Cupertino, California, according to a tweet shared by Musk this afternoon.
Musk thanked Cook for taking him around Apple's headquarters, with no mention of what the two might have discussed. The meeting comes just after Musk on Monday claimed that Apple has "mostly stopped" offering ads on Twitter, and that...
Anker's popular Eufy-branded security cameras appear to be sending some data to the cloud, even when cloud storage is disabled and local only storage settings are turned on. The information comes from security consultant Paul Moore, who last week published a video outlining the issue.
According to Moore, he purchased a Eufy Doorbell Dual, which was meant to be a device that stored video...
Apple today announced its 2022 App Store Award winners, highlighting the 16 best apps and games selected by Apple's global App Store editorial team.
The top apps were chosen by Apple for their quality, innovative technology, creative design, positive cultural impact, and ability to deliver "exceptional experiences." Apple CEO Tim Cook said:
This year's App Store Award winners reimagined...
The calendar has turned to December and that means Apple has only one month left to fulfill its promises of releasing an Apple Music Classical app and expanding its self-service repair program to Europe before the end of 2022. Delays are always possible, of course, so the plans could be pushed back to 2023. In any case, we have put together a list of five things that Apple still has to release...
Top Rated Comments
NOT
Bunch of clueless goof balls run Best Buy. Trying to sell Monster cables and Bose junk. And their extended warrantee.
The sales reps have no idea what they are actually talking about, and considering their geek squad is run by idiots, I don't like BB.
They won't have to, BB is bleeding cash and losing customers every month now.
The founder is trying to buy the company and go private but the board thinks BB is worth a lot more, so as BB bleeds and becomes devalued, the founder is getting the company cheaper by the month, however they can not compete with Amazon and Apple directly. I have never heard one good Geek Squad story, and I warn people not to get it.
They have become a showcase for people to look and see the products and then buy them online or somewhere else cheaper.
Besides 68,000 is a drop in a bucket of multi-billion dollar gouging sales during the year
When the original Walmart post came out, it was filled with smarmy remarks about Walmart customers and how they were unworthy to sell your beloved Apple products.
Now some of you are championing competition....even though Apple clearly envokes strict price controls on almost everyone who sells their equipment.
The hypocrisy of this site is a trip.....
If we want competition, then truly open it up and let resellers sell Apple gear for any price they choose. Otherwise spare me the economics lessons Best Buy needs to learn about competition.