Best Buy to open Shanghai store

BestBuy to open Shanghai storeLooking to gain a foothold in China's burgeoning electronics and gaming market, American retailer Best Buy will be opening their first Chinese store in the Xujiahui district of Shanghai this summer. Executives at Chinese electronics chains Suning, Yolo, and Gome are denying rumors that they have formed an alliance to combat their new "laowai" competitor. However, Suning CEO Sun Weimin has suggested that the mainland retailers will continue their strategy of cooperation.

Although console gaming is not very popular in China at the moment, online PC gaming is huge, and the presence of another "legitimate" games retailer should aid the Chinese government's plan to crack down on software and DVD piracy. Indeed, Chinese gamers will soon be able to plunk down 480 yuan and pre-order official copies of games 12-18 months in advance.

This article was originally published on Joystiq.