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109-581: Circuit City Corporation, Inc. , formerly Circuit City Stores, Inc. , is an American consumer electronics retail company, which was founded in 1949 by Samuel Wurtzel as the Wards Company , operated stores across the United States, and pioneered the electronics superstore format in the 1970s. After multiple purchases and a successful run on the NYSE , it changed its name to Circuit City Stores Inc. The brand name

218-554: A radio frequency link while the user is moving within a telephone service area. The radio frequency link establishes a connection to the switching systems of a mobile phone operator , which provides access to the public switched telephone network (PSTN). Modern mobile telephone services use a cellular network architecture and, therefore, mobile telephones are called cellular telephones or cell phones in North America. In addition to telephony , digital mobile phones ( 2G ) support

327-455: A "Powered by Circuit City" initiative. CarMax is a used car auto superstore concept developed in 1991 at Circuit City by Austin Ligon , then Circuit City's Senior VP of Planning, and Rick Sharp , then Circuit City CEO. The goal of CarMax was to revolutionize used car retailing through a combination of large selection (400+ used cars at each store); low, no-haggle pricing; guaranteed quality; and

436-490: A $ 119 million debt to Hewlett-Packard and a $ 116 million debt to Samsung Electronics . Chief executive James A. Marcum promised that the stores would stay open and the chain would not be liquidated. On November 18, 2008, it was announced that Ricardo Salinas Pliego , current owner of Mexican television broadcaster TV Azteca and electronics store chain Elektra , had purchased 28 percent of Circuit City. On January 10, 2009, it

545-540: A 40,000 sq ft (3,700 m) superstore in Union Square , the first of two planned Manhattan locations. In late 1988, Circuit City had an opportunity to purchase Best Buy , a growing competitor at the time, for US$ 30 million (~$ 66.7 million in 2023). The offer was rejected by Richard Sharp , Circuit City's CEO, since he believed they could open a store in Best Buy's home territory of Minneapolis and easily beat

654-454: A Kentucky distribution center to cut costs and improve its financial performance. News reports also mention that 62 stores in Canada were to close. Circuit City announced on February 23, 2007, that its chief financial officer, Michael Foss, would leave the company. This unsettled investors and analysts concerned about management turnover. "This represents the third departure of a senior executive in

763-803: A communications protocol is a system of digital rules for data exchange within or between computers. The Consumer Electronics Show (CES) trade show has taken place yearly in Las Vegas , Nevada since its foundation in 1973. The event, which grew from having 100 exhibitors in its inaugural year to more than 4,500 exhibiting companies in its 2020 edition, features the latest in consumer electronics, speeches by industry experts and innovation awards. The IFA Berlin trade show has taken place in Berlin , Germany since its foundation in 1924. The event features new consumer electronics and speeches by industry pioneers. Institute of Electrical and Electronics Engineers (IEEE),

872-609: A computer hardware and software business development company when he was just 27 years old. He was first hired by Circuit City as an executive vice president in 1982. He served as Circuit City's chief executive from 1986 to 2000. Under Sharp, Circuit City's annual revenue grew from $ 175 million to 10.6 billion during his fourteen-year tenure. The number of brick-and-mortar stores also increased from 69 in 1988 to more than 600 locations by 2000. Sharp also moved Circuit City from its core consumer electronics business into new ventures, such as home security . Critics have argued that

981-555: A consumer-friendly shopping experience. The first location opened in Richmond, Virginia in September 1993. CarMax grew slowly for its first four years as the team refined the basic concept, then went public through an IPO as a " tracking stock " ( KMX ) of Circuit City in February 1997. The offering was managed by Morgan Stanley and Goldman Sachs, and raised more than $ 400m for a 20% interest in

1090-493: A false advertising claim in a 2004 New Jersey court case. The court found that important information pertaining to sale items was purposely obscured within the advertisement, thus potentially deceiving customers. Circuit City's City Advantage Plan was also challenged in a United States District Court in Massachusetts . The plaintiffs' claim concerned Circuit City's cancellation of its warranty plan without full disclosure of

1199-423: A given price, semiconductor functionality doubles every two years. While consumer electronics continues in its trend of convergence , combining elements of many products, consumers face different purchasing decisions. There is an ever-increasing need to keep product information updated and comparable for the consumer to make an informed choice. Style, price, specification, and performance are all relevant. There are

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1308-490: A gradual shift towards e-commerce web-storefronts. Many products include Internet access using technologies such as Wi-Fi , Bluetooth , EDGE , or Ethernet . Products not traditionally associated with computer use (such as TVs or hi-fi equipment) now provide options to connect to the Internet or to a computer using a home network to provide access to digital content. The desire for high-definition (HD) content has led

1417-464: A new more self-service " Big Box " format called "Horizon." The new format eliminated the red tower entrances and moved the entrance to the center of the store. The selling floor was enlarged with lower sight lines and the race track was removed. A central checkout was located at the front of the store and shopping baskets were added for small items. Appliances were eliminated to make room for games, computer peripherals, and other small electronics. The plan

1526-407: A number of MOSFET integrated circuit (IC) chips, include various sensors that can be leveraged by pre-included and third-party software (such as a magnetometer , proximity sensors , barometer , gyroscope , accelerometer and more ), and support wireless communications protocols (such as Bluetooth , Wi-Fi , or satellite navigation ). In 2017, Greenpeace USA published a study of 17 of

1635-529: A potential shift in attitudes to reuse and repair. With turnover of small household appliances high and costs relatively low, many consumers will throw unwanted electric goods in the normal dustbin, meaning that items of potentially high reuse or recycling value go to landfills. While more oversized items such as washing machines are usually collected, it has been estimated that the 160,000 tonnes of EEE in regular waste collections were worth £220   million. And 23% of EEE taken to Household Waste Recycling Centres

1744-446: A result, the big players rely on global markets to achieve economies of scale. Even these companies sometimes have to cooperate with each other, for instance on standards, to reduce the risk of their investments. In supply chain management , there is much discussion on risks related to such aspects of supply chains as short product life cycles, high competition combined with cooperation, and globalization. The consumer electronics industry

1853-467: A second in nearby Burlington in May 2007. DIVX was developed by Circuit City and launched in 1997 as an alternative to DVD. DIVX discs cost $ 5 each, but could only be played for 48 hours on proprietary set-top players before a continuation fee was required to continue viewing. The player was connected to a phone line to check whether the disc was still valid. Opposition to the format and limited acceptance by

1962-441: A single substrate using electrical connections between circuits within the chip itself. IC technology led to more advanced and cheaper consumer electronics, such as transistorized televisions, pocket calculators , and by the 1980s, affordable video game consoles and personal computers that regular middle-class families could buy. Starting in the 1980s with the compact disc and the introduction of personal computers, and until

2071-591: A tiny fraction of disposable income , rising from 0.5   percent in the US in 1920, to about 2   percent in 1980. Yet the sequence of electrical and mechanical durables have altered the activities and experiences of households in America and Britain in the twentieth century. With the expansion of cookers, vacuum cleaners, refrigerators, washing machines, radios, televisions, air conditioning, and microwave ovens, households have gained an escalating number of appliances. Despite

2180-414: A used car retailer focused on two main ideas: no haggling and a huge inventory . The team rejected several proposed names, including "Honest Rick’s Used Cars" and "Sharp Motors" before choosing CarMax . Co-founded by Sharp in 1993, CarMax grew to $ 12.5 billion in annual sales at approximately 135 locations by 2013. Sharp hired Thomas J. Folliard as one of CarMax's first employees. Folliard has served as

2289-413: A variety of other services , such as text messaging , MMS , email , Internet access , short-range wireless communications ( infrared , Bluetooth ), business applications, video games and digital photography . Mobile phones offering only those capabilities are known as feature phones ; mobile phones which offer greatly advanced computing capabilities are referred to as smartphones . A smartphone

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2398-763: A videocassette recorders (VCRs) consume more electricity during the course of a year in standby mode than when they are used to record or playback videos. Similar findings were obtained concerning satellite boxes , which consume almost the same amount of energy in "on" and "off" modes. A 2012 study in the United Kingdom, carried out by the Energy Saving Trust , found that the devices using the most power on standby mode included televisions, satellite boxes, and other video and audio equipment. The study concluded that UK households could save up to £86 per year by switching devices off instead of using standby mode. A report from

2507-510: Is a portable device that combines mobile telephone and computing functions into one unit. They are distinguished from feature phones by their stronger hardware capabilities and extensive mobile operating systems , which facilitate wider software , internet (including web navigation over mobile broadband ), and multimedia functionality (including music, video, cameras , and gaming ), alongside core phone functions such as voice calls and text messaging . Smartphones typically contain

2616-605: Is a subsidiary of Samsung Electronics contributing $ 1.2   billion in revenues. Samsung Electronics has one of the highest R&D expenditure as a proportion of revenues in the industry and spent about $ 2.9   billion in 2003. Along with its competitors, Samsung Electronics is global and employs 88,000 people in 89 offices in 46 countries. Not including facilities in Korea, it has 24 manufacturing complexes, 40 distribution bases and 15 branches spread over all continents except Antarctica. Countries with manufacturing facilities include

2725-603: Is comparable across countries affects the extent of the gains from international integration. In addition, consumer preferences change over time to disturb existing patterns of behavior. A feature of some industries is that demand for variety increases as the market moves from first-time buying to replacement demand. A resource to further understand this idea of consumer preferences can be observed through Lizabeth Cohen's book titled, "A Consumers' Republic", "Only if we have large demands can we expect large production". The electronics industry, especially consumer electronics, emerged in

2834-402: Is in its 35th year. Institute of Electrical and Electronics Engineers (IEEE) Computer Society also have initiated a conference to research on next generation consumer electronics as Smart Electronics. The conference named IEEE Symposium on Smart Electronics Systems ( IEEE-iSES ) is on its 9th year. Electronics retailing is a significant part of the retail industry in many countries. In

2943-626: Is limited and energy intensive. Electronic waste describes discarded electrical or electronic devices. Many consumer electronics may contain toxic minerals and elements, and many electronic scrap components, such as CRTs , may contain contaminants such as lead , cadmium , beryllium , mercury , dioxins , or brominated flame retardants . Electronic waste recycling may involve significant risk to workers and communities and great care must be taken to avoid unsafe exposure in recycling operations and leaking of materials such as heavy metals from landfills and incinerator ashes. However, large amounts of

3052-486: Is part of the wider electronics industry . In turn, the driving force behind the electronics industry is the semiconductor industry . For its first fifty years, the phonograph turntable did not use electronics; the needle and sound horn were purely mechanical technologies. However, in the 1920s, radio broadcasting became the basis of mass production of radio receivers . The vacuum tubes that had made radios practical were used with record players as well, to amplify

3161-620: Is the very embodiment of these aspects of supply chain management and related risks. While some of the supply and demand related risks are similar to such industries as the toy industry, the consumer electronics industry faces additional risks due to its vertically integrated supply chains. There are also numerous supply-chain-wide contextual risks that cut across the supply chain especially impacting companies with global supply chains. These include cultural differences in multinational operations, environmental risk, regulations risk, and exchange rate risk across multiple countries. Whether or not demand

3270-422: Is used to distinguish them from " white goods ", which are meant for housekeeping tasks, such as washing machines and refrigerators . In British English, they are often called brown goods by producers and sellers. In the 2010s, this distinction is absent in large big box consumer electronics stores , which sell entertainment, communication and home office devices, light fixtures and appliances, including

3379-513: Is used within some consumer electronics, such as mobile phones . This type of software may be embedded within the hardware of electronic devices. Some consumer electronics include software that is used on a personal computer in conjunction with electronic devices, such as camcorders and digital cameras , and third-party software for such devices also exists. Some consumer electronics adhere to protocols, such as connection protocols "to high speed bi-directional signals". In telecommunications ,

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3488-553: The International Energy Agency in 2014 found that $ 80   billion of power is wasted globally per year due to inefficiency of electronic devices. Consumers can reduce unwanted use of standby power by unplugging their devices, using power strips with switches, or by buying devices that are standardized for better energy management, particularly Energy Star -marked products. A high number of different metals and low concentration rates in electronics means that recycling

3597-512: The South . Imagining the opportunities, in late 1949, he moved his family to Richmond and opened the first Wards Company retail store. Later, Abraham L. Hecht joined him as a partner in the business. By 1959, Wards Company operated four television and home appliance stores in Richmond. The company continued to grow and acquired stores in other locations including Albany, New York ; Mobile, Alabama ; Washington, D.C. ; and Costa Mesa, California . During

3706-468: The residential housing boom of the mid-2000s , which saw a dramatic rise in new-appliance sales. Every Superstore was retrofitted after the exit from the large-appliance business, using the space for an expanded self-serve computer accessory and software selection. Under an exclusive agreement with Sony , the only games that had been sold at the stores were PlayStation games. The new space allowed them to sell Nintendo, Sega, and eventually Xbox games after

3815-441: The ubiquity of these goods, their diffusion is not well understood. Some types of appliances diffuse more frequently than others. In particular, home entertainment appliances such as radio and television have diffused much faster than household and kitchen machines." Consumer electronics devices include those used for Increasingly consumer electronics products such as digital distribution of video games have become based on

3924-436: The 1970s and early 1980s, it also sold mail-order under the name "Dixie Hi Fi", advertising in hi-fi magazines. Wards experimented with several retail formats in Richmond, including smaller mall outlets branded "Sight-n-Sound" and "Circuit City". Samuel Wurtzel served as president of the company until 1970 and remained the chairman until 1984. Alan Wurtzel , his son, became CEO of Wards in 1972 and initially focused on digesting

4033-404: The 1980s and 1990s, followed by DVD players and Blu-ray players). Stores also sell smart light fixtures and appliances , digital cameras , camcorders , mobile phones , and smartphones . Some of the newer products sold include virtual reality head-mounted display goggles, smart home devices that connect home devices to the Internet , streaming devices, and wearable technology . In

4142-520: The 2010s, most consumer electronics have become based on digital technologies. They have essentially merged with the computer industry in what is increasingly referred to as the consumerization of information technology . Some consumer electronics stores have also begun selling office and baby furniture . Consumer electronics stores may be " brick and mortar " physical retail stores, online stores, or combinations of both. Annual consumer electronics sales are expected to reach $ 2.9 trillion by 2020. It

4251-504: The 20th century and has become a global industry worth billions of dollars. Contemporary society uses all manner of electronic devices built-in automated or semi-automated factories operated by the industry. Most consumer electronics are built in China, due to maintenance cost, availability of materials, quality, and speed as opposed to other countries such as the United States. Cities such as Shenzhen have become important production centres for

4360-689: The CompUSA and Circuit City storefront brands by consolidating their businesses under the TigerDirect brand and website. This ended, after 63 years, the use of the Circuit City brand name. It was reported in January 2016 that the Circuit City brand would be revived as Circuit City Corporation by area retail veteran Ronny Shmoel, who acquired the brand from Systemax . Circuit City was originally set to reopen in June 2016, but

4469-639: The New York City market by acquiring the six remaining stores of the bankrupt Lafayette Radio chain. They operated the stores under the "Lafayette/Circuit City" name and expanded to 15 locations, but the stores were not profitable and were closed in 1986 after spending US$ 20 million (~$ 47.2 million in 2023) to enter the market. In 1985, Circuit City entered the Los Angeles market by opening seven Superstore locations in former The Akron discount stores. The next year, Circuit City opened five more Superstores in

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4578-520: The Radio Shack line in Canada; the stores rebranded as " The Source by Circuit City". In 2005, InterTAN sued RadioShack in an attempt to prevent it from re-entering the Canadian marketplace as a direct competitor; while this effort failed, the nine new RadioShack-branded stores closed their doors by 2007. In 2005, Circuit City agreed to pay $ 173,220 in settlement and investigation reimbursement costs due to

4687-472: The US, Malaysia, China, India, and Hungary. The increase in popularity of such domestic appliances as ' white goods ' is a characteristic element of consumption patterns during the golden age of the Western economy. Europe's White Goods industry has evolved over the past 40 years, first by changing tariff barriers, and later by technical and demand shifts. The spending on domestic appliances has claimed only

4796-729: The United States Bankruptcy Code in the United States Bankruptcy Court for the Eastern District of Virginia . At that time, Circuit City's stock traded well below $ 1 per share, and was removed from listing on the New York Stock Exchange . In bankruptcy court, Circuit City was approved to borrow $ 1.1 billion to finance operations while restructuring. Court filings revealed that the company had assets of $ 3.4 billion and debt of $ 2.32 billion, including

4905-534: The United States, dedicated consumer electronics stores have mostly given way to big-box stores such as Best Buy , the largest consumer electronics retailer in the country, although smaller dedicated stores include Apple Stores , and specialist stores that serve, for example, audiophiles and exceptions, such as the single-branch B&H Photo store in New York City. Broad-based retailers, such as Walmart and Target , also sell consumer electronics in many of their stores. In April 2014, retail e-commerce sales were

5014-408: The acquisitions and shedding unprofitable operations. After developing a long range plan for the company in 1973, construction began on a distribution center and new corporate offices building at 2040 Thalbro Street (named after Thalhimer Bros. Department Store ) in Richmond, Virginia and in the extra space, "Wards Loading Dock", its first warehouse showroom opened on May 1, 1975. The large-format store

5123-458: The agreement ended. Music and movie sales had been added to most stores years before, but the extra space allowed the selection to be added to smaller stores. The retrofitting project alone cost the company US$ 1.5 billion. Another store format, called "Tide", was created based on research conducted that found women and teenagers were not respected by the Circuit City sales staff. The front of the store featured windows allowing customers to see in and

5232-516: The agreement. In April 2004, Circuit City announced its purchase of Canadian retailer InterTAN . Circuit City paid approximately US$ 284 million for InterTAN's 980 stores, which operated in Canada under the trade names RadioShack , Rogers Plus, and Battery Plus. Chairman and CEO Alan McCollough believed these existing small-format stores provided an easy entry into Canada, a country where Best Buy had been expanding. RadioShack sued InterTan in April 2004 over

5341-592: The bathroom type. Radio broadcasting in the early 20th century brought the first major consumer product, the broadcast receiver . Later products included telephones , televisions , and calculators , then audio and video recorders and players, video game consoles , mobile phones , personal computers and MP3 players . In the 2010s, consumer electronics stores often sell GPS , automotive electronics ( vehicle audio ), video game consoles , electronic musical instruments (e.g., synthesizer keyboards), karaoke machines, digital cameras , and video players ( VCRs in

5450-405: The board, was named acting CEO. Allen King was selected chairman of the board. This switch was said to be due to a stream of losses stemming from the rapid decline of flat-panel TV prices, and possibly due to the strong call for Schoonover's removal from activist shareholder Mark Wattles. On November 4, 2008, Circuit City announced that it would close 155 stores and lay off 17% of its workforce by

5559-633: The branding use of RadioShack in Canada. Circuit City lost the lawsuit and all Canadian locations were renamed The Source by Circuit City in 2005. These stores were sold to Bell Canada and continue to operate. In 2007, a new 20,000-square-foot (1,900 m) store format was introduced as "The City" and designed to eliminate previously under-utilized space. The smaller format gave the company greater flexibility to enter new markets and backfill existing ones. Most new store openings in 2008 used this new store format. On February 8, 2007, Circuit City announced that it planned to close seven domestic Superstores and

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5668-434: The chain's head office demanded stores destroy all copies of an issue of Mad magazine which described "Sucker City" as a chain with a long list of locations, all in proximity to each other and each adjacent to a rival Best Buy store. Philip J. Schoonover, CEO, president and chairman of the board of Circuit City Stores, Inc. announced his immediate resignation on September 22, 2008. James A. Marcum, former vice chairman of

5777-400: The company, "It is a sad thing...They made some stupid decisions after I left." Rick Sharp, the then chief executive of Circuit City, delivered a speech to a conference held by J. D. Power and Associates in the early 1990s. Following his speech, Sharp conceived of a potential Circuit City expansion into the automotive retail business. Sharp led a team of Circuit City executives who created

5886-585: The company, with Circuit City retaining the remaining 80% ownership. CarMax used the proceeds to repay Circuit City's initial $ 170mm investment in the company, then used the remainder to grow rapidly, adding 27 more stores from 1997 to 2000, and turning its first profit in FY2001. Circuit City sold a further 10% of its interest in CarMax in July 2001 for $ 140mm (~$ 230 million in 2023), with proceeds going to Circuit City. CarMax

5995-531: The competitor. During this era, Circuit City became known for its exceptional service, going so far as to have many of its staff factory-trained. Its slogan, likewise, was "Welcome to Circuit City, Where Service Is State of the Art". Many Circuit City stores were out-of-date and in bad locations, unable to compete with newer Best Buy stores. In 2000, Circuit City moved away from the Superstore showroom format and introduced

6104-586: The country. Although a typical retail location is approximately 30,000 square feet (2700 m), the company had numerous freestanding and in-line locations ranging from 2,000 to 50,000 square feet (180 to 4500 m), and had surplus office, service and distribution locations scattered across the country. During Circuit City's 2005 fiscal year (March 1, 2004, through February 28, 2005), the company disposed of approximately 1.2 million square feet (108,000 m) of vacant retail space. In January 2007, Circuit City's vice president for real estate announced plans to open 200–300 stores in

6213-399: The deal were not disclosed. In 2003, Circuit City converted to a single hourly pay structure in all stores, eliminating commissioned sales. Many previously commissioned sales associates were offered new positions as hourly "product specialists", while 3,900 salespeople were laid off, saving the company about $ 130 million per year. Many company insiders later revealed that they thought this was

6322-537: The earliest transistors at Bell led to transistor radios . This led to the emergence of the home entertainment consumer electronics industry starting in the 1950s, largely due to the efforts of Tokyo Tsushin Kogyo (now Sony ) in successfully commercializing transistor technology for a mass market, with affordable transistor radios and then transistorized television sets . Integrated circuits (ICs) followed when manufacturers built circuits (usually for military purposes) on

6431-426: The early 2000s, many consumer electronics devices such as televisions and stereo systems, were digitized: digital computer technology, and thus digital signals, were integrated into the operation of consumer electronics devices, drastically changing their operation but with improved results such as improved image quality in televisions. This was made possible by Moore's law . In 2004, the consumer electronics industry

6540-453: The end of the year as a result of continuing difficulties in remaining profitable. On November 7, 2008, Circuit City laid off between 500 and 800 corporate employees from its Richmond, Virginia headquarters. The approximately 1,000 remaining corporate employees were consolidated into one building in an effort to further reduce costs and improve profitability. On November 10, 2008, Circuit City filed for bankruptcy protection under Chapter 11 of

6649-472: The federal minimum wage at the time). In a press release on March 28, 2007, Circuit City announced that in a "wage management" decision in order to cut costs, it had laid off approximately 3400 better-paid associates and would re-staff the positions at the lower market-based salaries. Laid-off associates were provided severance and offered a chance to be re-hired after ten weeks at prevailing wages. The Washington Post reported interviews with management concerning

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6758-402: The firings. The Post later reported in May 2007 that the layoffs, and consequent loss of experienced sales staff, appeared to be "backfiring" and resulting in slower sales. In April 2008, video rental firm Blockbuster announced a bid worth $ 1 billion (~$ 1.39 billion in 2023) to purchase Circuit City. In July 2008, Blockbuster withdrew its offer due to market conditions. In August 2008,

6867-554: The highest in the consumer electronic and computer categories as well. Some consumer electronics retailers offer extended warranties on products with programs such as SquareTrade . An electronics district is an area of commerce with a high density of retail stores that sell consumer electronics. Consumer electronic service can refer to the maintenance of said products. When consumer electronics have malfunctions, they may sometimes be repaired. In 2013, in Pittsburgh, Pennsylvania,

6976-424: The increased popularity in listening to sound from analog audio devices, such as phonographs , as opposed to digital sound, has sparked a noticeable increase of business for the electronic repair industry there. A mobile phone , cellular phone, cell phone, cellphone, handphone, or hand phone, sometimes shortened to simply mobile, cell or just phone, is a portable telephone that can make and receive calls over

7085-523: The industry to develop a number of technologies, such as WirelessHD or ITU-T G.hn , which are optimized for distribution of HD content between consumer electronic devices in a home. The consumer electronics industry faces consumers with unpredictable tastes on the demand side, supplier-related delays or disruptions on the supply side, and production challenges occurring in the process. The high rate of technology evolution or revolution requires large investments without any guarantee of profitable returns. As

7194-548: The industry, attracting many consumer electronics companies such as Apple Inc. An electronic component is any essential discrete device or physical entity in an electronic system used to affect electrons or their associated fields. Electronic components are mostly industrial products, available in a singular form, and are not to be confused with electrical elements , conceptual abstractions representing idealized electronic components. Consumer electronics such as personal computers use various types of software. Embedded software

7303-598: The internet and digital technologies. The consumer electronics industry has primarily merged with the software industry in what is increasingly referred to as the consumerization of information technology . One overriding characteristic of consumer electronic products is the trend of ever-falling prices. This is driven by gains in manufacturing efficiency and automation , lower labor costs as manufacturing has moved to lower-wage countries, and improvements in semiconductor design. Semiconductor components benefit from Moore's law , an observed principle which states that, for

7412-454: The liquidation, but were later sold to Bell Canada . According to Circuit City's website, the company announced on January 16, 2009, that it intended to liquidate all of its stores. Reportedly, over 30,000 employees lost their jobs in the liquidation, as well as 45% of Verizon's Circuit City sales force being laid off with the remainder resigning or transferring to other Verizon locations. The final day of operations for all Circuit City stores

7521-655: The locations closed in the early 2000s as their original 10 year leases expired. There was also a Circuit City Express location inside Charlestowne Mall in Saint Charles, Illinois . Connect was a store concept operated as a joint venture between Circuit City and Comcast . These small stores offered Comcast cable services, plus select electronics and Firedog tech support services from Circuit City. The first Connect store opened in Medford , Massachusetts in December 2006, followed by

7630-519: The market and closed the licensed electronics and appliance departments it operated in Zodys stores. The new stores featured the "red tower" entrance that ultimately became a trademark of the company. The towers were designed to make the store more identifiable to drivers among the endless stores and shopping centers in Los Angeles. In 1988, Circuit City began constructing the new "plug" design Superstore formats. The company also returned to New York City opening

7739-411: The most influential company decision that would ultimately lead to its demise. In 2004, with the expansion of the wireless phone market, Circuit City partnered with Verizon Wireless to include full-service Verizon Wireless sales and service centers in each Superstore. These locations were owned and staffed by Verizon Wireless. Circuit City stopped selling wireless phones with all other carriers due to

7848-493: The move into these new ventures caused Circuit City to lose focus amid growing competition. Sharp retired as Circuit City's CEO in 2000 and left the company's board in 2002. All Circuit City stores closed in 2009 due to competition from other retailers, such as Best Buy , and e-commerce . In a 2013 interview with the Richmond Times-Dispatch, Sharp criticized the choices made by the company's executives after he left

7957-413: The nation, the company's online store was closed, and replaced it with a page that read as follows: Circuit City would like to thank all of the customers who have shopped with us over the past 60 years. Unfortunately, we announced on January 16, 2009, that we are going out of business. Systemax, Inc. , in April 2009, signed a stalking horse agreement for $ 6.5 million (~$ 8.97 million in 2023), which

8066-454: The next two years, a large increase from the current trend of 10–12 stores a year. Due to the economic conditions the company faced, they did not reach that goal. Many of these stores, however, did open in 2008 and operated for only a few weeks before closing. Some were built and never opened and upon the company's declaration of bankruptcy, it was discovered that large expenditures were due to paying leases on buildings that were not even opened to

8175-402: The ones using electronics the most. "People who frequently use their thumbs to type text messages on cell phones can develop a painful affliction called De Quervain syndrome that affects their tendons on their hands. The best-known disease in this category is called carpal tunnel syndrome , which results from pressure on the median nerve in the wrist". Richard Sharp (executive) Sharp

8284-399: The past six months, and the second departure of a top-five executive in the past month" said Goldman Sachs analyst Matthew Fassler in a client note. Chief Executive Officer Phil Schoonover's "hand-picked team is turning over faster than we would like to see in a turnaround situation." In 2007, the starting wage for new employees was dropped from $ 8.75 an hour down to $ 7.40 an hour ($ 6.55 being

8393-523: The plan at the time of sale. The plaintiffs cited breach of contract, unjust enrichment, and violation of the Massachusetts Consumer Protection Act. Circuit City requested the matter be dismissed. The court, however, upheld the plaintiffs' claim that the monies paid for the protection plan be reimbursed and credit be issued for non-working goods returned. Liquidators handling the sale of remaining Circuit City inventory have also become

8502-593: The postponed relaunch was announced at CES for February 15, 2018. On August 22, 2018, Circuit City Corporation officially relaunched the brand name as an online retailer and announced plans to begin operating as a store-within-a-store chain. It also planned to open some new Circuit City retail stores in the future, but never materialized. On December 13, 2023, Circuit City announced its intention to raise US$ 25M. Shmoel aims to establish strategic alliances (in alternative to brick-and-mortar stores) with undisclosed national enterprises (potentially including JCPenney ) to launch

8611-563: The president and chief executive of CarMax from 2006 until 2016, when Folliard retired. Sharp was a founding investor and member of the board of Crocs, which was founded in 2002. He also established an investment firm , V-Ten Capital Partners. In 2008, Sharp was inducted into the Consumer Electronics Hall of Fame . Diagnosed with early-onset posterior cortical atrophy , a rare form of Alzheimer's disease , in October 2010, Sharp

8720-403: The produced electronic waste from developed countries is exported, and handled by the informal sector in countries like India, despite the fact that exporting electronic waste to them is illegal. Strong informal sector can be a problem for the safe and clean recycling. E-waste policy has gone through various incarnations since the 1970s, with emphases changing as the decades passed. More weight

8829-499: The public led Circuit City to discontinue the format in 1999. Circuit City took a US$ 114 million loss to close its DIVX division. Firedog was launched in August 2006 to provide in-store, in-home, and online computer and home theatre technical support and installation services in competition with other retailers' consumer and business technical services offerings such as Best Buy 's Geek Squad and Staples' EasyTech . The Firedog brand

8938-499: The public. Consumer electronics Consumer electronics or home electronics are electronic ( analog or digital ) equipment intended for everyday use, typically in private homes. Consumer electronics include devices used for entertainment , communications and recreation . These products are usually referred to as black goods in American English, due to many products being housed in black or dark casings. This term

9047-573: The raw materials. The energy consumption of consumer electronics and their environmental impact, either from their production processes or the disposal of the devices, is increasing steadily. EIA estimates that electronic devices and gadgets account for about 10%–15% of the energy use in American homes – largely because of their number; the average house has dozens of electronic devices. The energy consumption of consumer electronics increases – in America and Europe – to about 50% of household consumption if

9156-412: The same website formats and product catalog along with the new CircuitCity.com site. The revived site's front page initially looked similar to the original front page, while other pages were similar in appearance and functionality to the other two sites. All three sites eventually transitioned into slightly rebranded mirrors of each other. On November 2, 2012, it was announced that Systemax would drop both

9265-486: The signage was improved. Power poles and movable fixtures allowed for easy rearrangement of the store and lowered the cost of remodeling older locations since the floor did not need to be trenched. In 2001, Chicago stores were remodeled with parts of this format and all new locations opened with this design. In March 2002, Circuit City purchased the key assets for 800.com, which included their entire 2.6 million customer list, websites, and marketing assets. Financial terms of

9374-442: The sound so that it could be played through a loudspeaker . Television was soon invented but remained insignificant in the consumer market until the 1950s. The first working transistor , a point-contact transistor , was invented by John Bardeen and Walter Houser Brattain at Bell Labs in 1947, which led to significant research in the field of solid-state semiconductors in the early-1950s. The invention and development of

9483-881: The stigma for some of owning second-hand goods. But the benefits of reuse could allow lower-income households access to previously unaffordable technology while helping the environment at the same time. Desktop monitors and laptops produce major physical health concerns for humans when bodies are forced into unhealthy and uncomfortable positions to see the screen better. From this, neck and back pains and problems increase, commonly referred to as repetitive strain injuries . Using electronics before going to bed makes it difficult for people to fall asleep, hurting human health. Sleeping less prevents people from performing to their full potential physically and mentally and can also "increase rates of obesity and diabetes", which are "long-term health consequences". Obesity and diabetes are more commonly seen in students and in youth because they tend to be

9592-408: The strength of the Circuit City brand. These stores focused on small electronic products for personal use or to be given as gifts. Cellular phones were a major focus of the business since all major carriers were sold until the exclusive agreement with Verizon Wireless in 2004. Circuit City Express stores offered Superstore prices and the Circuit City "Price Match Guarantee" in a mall environment. Most of

9701-429: The target of consumer complaints, not only for often-uncompetitive pricing of items but also for an "all sales final" policy which allows the sale of defective or damaged merchandise at former Circuit City locations with no recourse afforded to the consumer. Due to the expansion of Circuit City stores in the 1970s–1990s, the company accumulated a surplus of unused real estate with a presence in nearly every major market in

9810-418: The term is redefined to include home appliances such as refrigerators , dryers , clothes washers and dishwashers . Standby power – used by consumer electronics and appliances while they are turned off – accounts for 5–10% of total household energy consumption, costing $ 100 annually to the average household in the United States. A study by United States Department of Energy 's Berkeley Lab found that

9919-676: The time. He later explained to the Richmond Times-Dispatch that he lost interest in the original major, "One semester, I went to class and I got B grades. The second semester, I had no interest." Sharp initially spent much of his time playing pool and poker . He never completed a college degree, but did enroll in computer courses at the College of William and Mary in Williamsburg, Virginia , from 1968 to 1970 and studied advanced management at Harvard University in 1985. Sharp founded

10028-596: The world's largest professional society, has many initiatives to advance the state of the art of consumer electronics. IEEE has a dedicated society of thousands of professionals to promote CE, called the Consumer Electronics Society (CESoc). IEEE has multiple periodicals and international conferences to promote CE and encourage collaborative research and development in CE. The flagship conference of CESoc, called IEEE International Conference on Consumer Electronics (ICCE),

10137-438: The world's leading consumer electronics companies about their energy and resource consumption and the use of chemicals. Electronic devices use thousands rare metals and rare earth elements (40 on average for a smartphone ), these material are extracted and refined using water and energy-intensive processes. These metals are also used in the renewable energy industry meaning that consumer electronics are directly competing for

10246-555: Was "Circuit City — Where the Streets are Paved with Bargains". The company, which had leased floor space from the Zodys discount stores as well as other department stores, began acquiring retail stores and turning them into Circuit City Superstores. The first of these replacements occurred in Knoxville, Tennessee ; Charleston, South Carolina ; and Hampton, Virginia . In 1981, Circuit City entered

10355-424: Was March 8, 2009. Besides retail auto dealerships, Circuit City closed more retail locations in the U.S. than any other retail chain in 2009. Circuit City selected Great American Group LLC, Hudson Capital Partners LLC, SB Capital Group LLC, and Tiger Capital Group LLC to handle the liquidation of all stores nationwide. Liquidation was completed on March 9, 2009. During the liquidation of all Circuit City stores across

10464-650: Was acquired by Circuit City in 1987. The company was in charge of designing product displays and other electronic services for Circuit City. Patapsco Designs was founded in 1977 and is based in Frederick, Maryland and in November 2004 was acquired by American Computer Development Inc. Patapsco Designs, Inc. filed a voluntary petition for reorganization under Chapter 11 Bankruptcy in joint administration with Circuit City Stores, Inc. in November 2008. In 2004, RadioShack sued InterTAN to prematurely terminate its role as reseller for

10573-487: Was an advocate for research on the disease. His grandfather, father and uncle had also suffered from early-onset Alzheimer's. Sharp and his wife, Sherry, donated more than $ 5 million for Alzheimer's research since 1999, most of which went to Johns Hopkins School of Medicine , where he was a member of its advisory board. Rick Sharp died from posterior cortical atrophy at his home in Goochland, Virginia , on June 24, 2014, at

10682-649: Was an initial offer for the bankrupt Circuit City's assets. On May 13, 2009, it was announced that Systemax had purchased the Circuit City brand name, trademarks, and e-commerce website for US$ 14 million (~$ 19.3 million in 2023) at auction from Circuit City Stores, Inc. on May 11, with the deal set to take effect on May 19. Systemax relaunched the CircuitCity.com website on May 22, 2009, as an online retailer of consumer electronics. Systemax had earlier acquired both CompUSA and TigerDirect separately, which superficially continued to operate as separate online retailers with

10791-603: Was announced by a company spokesman that Circuit City needed a buyer by January 16, 2009, to keep from shutting its doors due to an approaching deadline set by the court and creditors. Although two unnamed parties were interested in buying out Circuit City, a bidder could not be found, so Circuit City, with bankruptcy court approval, converted its Chapter 11 bankruptcy to Chapter 7 , and started airing "going out of business" commercials, as they started closing all of their stores. The Canadian operations, which were run under The Source by Circuit City banner, were not initially affected by

10900-628: Was born in Washington D.C. , on April 12, 1947, and raised in nearby Alexandria, Virginia . He graduated from the former George Washington High School in Alexandria in 1965. Sharp attended the University of Virginia , where he studied electrical engineering during the middle of the 1960s. However, he dropped out to pursue computer science , a program which was not offered by the University of Virginia at

11009-417: Was gradually placed on the need to dispose of e-waste more carefully due to the toxic materials it may contain. There has also been recognition that various valuable metals and plastics from waste electrical equipment can be recycled for other uses. More recently, the desirability of reusing whole appliances has been foregrounded in the 'preparation for reuse' guidelines. The policy focus is slowly moving towards

11118-490: Was immediately resaleable – or would be with minor repairs or refurbishment. This indicates a lack of awareness among consumers about where and how to dispose of EEE and the potential value of things that are going in the bin. For the reuse and repair of electrical goods to increase substantially in the UK, some barriers must be overcome. These include people's mistrust of used equipment in terms of whether it will be functional, safe and

11227-470: Was popular with customers. The company continued to expand with the new format modeled after "Wards Loading Dock" and renamed it Circuit City Superstore in 1978; the first locations called such opened on June 22 of that year in North Carolina. Wards Company officially changed its name to Circuit City Stores, Inc., and became listed on the New York Stock Exchange in 1984. One of the company's early slogans

11336-506: Was re-established by Ronny Shmoel in 2016 as part of his acquisition of the brand name and trademark rights sold by Systemax , which formerly operated the CircuitCity.com website from 2009 until 2012, when it was consolidated into the TigerDirect brand. In early 1949, Wurtzel was on vacation in Richmond, Virginia when, while at a local barber shop, he was witness to the start of television in

11445-432: Was sold to Firstmark for US$ 250,000 (~$ 345,161 in 2023) in September 2009, approximately six months after the liquidation of all Circuit City stores. First North American National Bank was created by Circuit City to operate its private-label credit card in 1990. In 2002, Circuit City began offering a co-branded Visa credit card. It sold both of these operations in 2004 to Bank One (now Chase Bank ). Patapsco Designs

11554-667: Was spun off from Circuit City in a tax free distribution to shareholders in October 2002 to allow both companies to grow and be valued independently. The stock distribution provided Circuit City shareholders with KMX stock valued at over $ 1.2bn (~$ 1.94 billion in 2023) at the time of the spin off in 2002. Circuit City Express was a chain of mall-based Circuit City stores with over 50 locations at its peak. The first locations opened in Baltimore, Maryland ; Richmond, Virginia ; and McLean, Virginia in 1989. The stores were originally known as Impulse , but were later renamed in 1993 to focus on

11663-447: Was the second largest appliance retailer in the United States, behind only Sears . The company had earned nearly US$ 1.6 billion in sales revenue from large appliances in 1999. However, executives were concerned about the competition from Home Depot and Lowe's and believed there would be big savings in warehouse storage and delivery costs if they quit the large appliance business. It was later realized that Circuit City thus missed out on

11772-463: Was to open stand-alone major appliance stores, but later that plan was dropped. One new store in Jacksonville, Florida incorporated the new design and twenty-five existing Florida stores were remodeled to this format. In July 2000, Circuit City abandoned the large appliance business in all stores to make space for more small electronics. This was controversial because in the previous year Circuit City

11881-508: Was worth US$ 240   billion annually worldwide comprising visual equipment, audio equipment , and games consoles . It was truly global with Asia Pacific having 35% market share, Europe having 31.5%, the US having 23%, and the rest of the world having the rest. Major players in this industry are household names like Sony, Samsung, Philips, Sanyo, and Sharp. Samsung Electronics is part of Samsung . In 2003, combined revenues for Samsung Electronics were $ 55   billion. Samsung Electronics UK

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