Feb. 22, 2007 (China Knowledge) – Best Buy Co. Inc. plans to open up to 26 stores in China during its fiscal year beginning March 4, said the company on Wednesday.

The top U.S. consumer electronics retail chain said that it expects to open up to 23 Five Star Stores, as well as to establish two or three Best Buy locations in the next 12 to 18 months. The company also said that it expects to generate about US$100 billion in annual sales in China by 2010.

The first Best Buy store outside North America was opened in Shanghai in December 2006. The company estimates that its China retail square footage will exceed five million sq ft by the end of the upcoming fiscal year.