Best Buy Partners with Vivint Smart Home to Launch Leading-Edge Smart Home Service
May 04 2017 - 8:00AM
Business Wire
Best Buy and Vivint Smart Home today announced a strategic
partnership to give customers an easy way to automate and manage
their homes, called Best Buy Smart Home powered by Vivint. With a
nationwide rollout beginning this summer, Best Buy customers will
be able to visit one of more than 400 of the chain’s large-format
stores to consult with a smart home expert, design a comprehensive
system, and receive professional installation and monitoring, often
within 24 hours.
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Best Buy and Vivint Smart Home are
partnering to give customers an easy way to automate and manage
their homes. With a nationwide rollout beginning this summer, Best
Buy customers will be able to visit one of more than 400 stores to
interact with Vivint products, and consult with a smart home expert
for design and installation. (Photo: Best Buy)
Guided by in-store experts, customers can select from a suite of
leading smart home products from Vivint and other partners –
including smart locks, lights, cameras, thermostats and more – and
purchase their products upfront or take advantage of special
financing. Accompanying service plans include 24/7 professional
monitoring with emergency response, always-on cellular connection,
30-day video storage, online and phone support, in-home service and
equipment protection. Customers also have the option to select a
no-contract service plan. Vivint’s smart home platform works with
voice assistants, such as Amazon Echo and Google Home, enabling
consumers to control their smart home devices with their voice.
“Best Buy is all about helping customers pursue their passions
and enrich their lives with the help of technology,” said Asheesh
Saksena, Chief Strategic Growth Officer at Best Buy. “To deliver on
that promise, we work with industry leading partners to curate the
best products, services and solutions that address the everyday
needs of our customers. Our partnership with Vivint is a
perfect example of that strategy.”
“At Vivint, our vision from the beginning has been to deliver
smart home for the mass market,” said Alex Dunn, president of
Vivint Smart Home. “Together with Best Buy, we are further
encouraging adoption by providing customers with a comprehensive
smart home offering and a personalized retail experience.”
Best Buy has been a leader in home technology services and
products for years. Last year, the company sold more than 55
million connected devices and provided in-home, in-store and online
technology services nearly 16 million times.
Vivint Smart Home has more than 1 million customers and has
installed more than 15 million smart home devices in North American
homes. Recently named the No. 1 smart home services provider in the
U.S. by Strategy Analytics, Vivint is also one of Fast Company’s
World’s 50 Most Innovative Companies for 2017.
Vivint and Best Buy were also named the No. 1 and No. 2 Top
Smart Home Integrators, respectively, in the 2017 CE Pro 100
List.
For more information, visit
www.bestbuy.com/smarthomesecurity.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws, including statements
concerning the Best Buy Smart Home powered by Vivint program (the
“Program”). Such forward-looking statements are subject to
various risks and uncertainties, including, among others, risks
inherent in the smart home industry, competition for smart home
customers, litigation, complaints or adverse publicity,
macroeconomic factors beyond the control of Best Buy and Vivint
Smart Home (the “Parties”), product liability claims,
increases or decreases in utility and other energy costs, increased
costs related to utility or governmental requirements, cost
increases or shortages in security and smart home technology
products or components and the impact to the Parties’ business,
results of operations, financial condition and customer experience
of the Program. In addition, the origination and retention of new
subscribers will depend on various factors, including, but not
limited to, market availability, subscriber interest, the
availability of suitable components, the negotiation of acceptable
contract terms with subscribers, local permitting, licensing and
regulatory compliance, and the Parties’ ability to manage any
expansion and to hire, train and retain qualified personnel, the
financial viability of subscribers, changes in industry and
category conditions, changes in consumer spending and debt levels,
strategic initiatives of competitors and vendors, and general
economic conditions (including fluctuations in housing prices, oil
markets and jobless rates). Additional factors that could cause the
Parties' results to differ materially from those described in the
forward-looking statements can be found in the “Risk Factors"
section of the Annual Report on Form 10-K of Best Buy Co., Inc. for
the fiscal year ended January 28, 2017 and APX Group Holdings,
Inc., Vivint Smart Home’s indirect parent, for the fiscal year
ended December 31, 2016, in each case as filed with the SEC, as
such factors may be updated from time to time in Best Buy Co.,
Inc.’s and APX Group Holdings, Inc.'s respective periodic filings
with the SEC, which are accessible on the SEC's website
at www.sec.gov. Accordingly, there are or will be important
factors that could cause actual outcomes or results to differ
materially from those indicated in these statements. These factors
should not be construed as exhaustive and should be read in
conjunction with the other cautionary statements that are included
in Best Buy Co., Inc.’s and APX Group Holdings, Inc.'s respective
filings with the SEC. Neither Party undertakes any obligation to
update or review any forward-looking statement, whether as a result
of new information, future developments or otherwise, except as
required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20170504005167/en/
Best BuyPaula Baldwin,
612-231-5146press@bestbuy.comorVivint Smart HomeLiz Tanner,
801-229-6956liz.tanner@vivint.com
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