Skip to content
Subscriber Only

Best Buy Falls as Amazon Service Puts Geek Squad in Jeopardy

  • Amazon program helps customers set up smart home devices
  • Services account for about 5 percent of Best Buy’s revenue
Updated on

Best Buy Co. fell the most in more than a year after Amazon.com Inc. introduced a service that helps customers set up smart home devices, a move that threatens the big-box chain’s Geek Squad business.

The new program, called Amazon Smart Home Services, is designed to let customers install and configure products, such as smart thermostats. Services account for about 5 percent of revenue at Best Buy, which acquired Geek Squad more than a decade ago to help solve customers’ technology problems.