Originally founded in 1921 by two London-born Bostonian brothers, Theodore and Milton Deutschmann, with an interest in selling used ham radio equipment, RadioShack Corporation now has thousands of electronics retail stores spread throughout the United States, Europe, South America and Africa and even opened two new concept stores in China and Malaysia this past April. Headquartered in Fort Worth, Texas and with a market cap of $64.7 million, RadioShack Corporation makes the majority of its revenue off of RadioShack branded products, batteries and power sources, various electronics parts and accessories for electronics ranging from computers to mp3 players, and wireless offerings from AT&T, Verizon, Sprint and Boost Mobile. Read on and discover five things you might never have known about the electronics retail giant.
5. Free Electronics Recycling
Helping to conserve natural resources and reduce the impact on landfills, RadioShack was the first national retailer to team up with Call2Recycle and has since collected more than 7 million pounds of rechargeable batteries. Not only will RadioShack recycle your rechargeable batteries for free, but any wireless phone will also be accepted.
4. The Hinckley-Tandy Leather Company
RadioShack can actually trace its roots back to a separate and very different company. Formed in 1919, the Fort Worth, Texas leather shoe parts supplier known as Hinckley-Tandy Leather Company bought the struggling RadioShack organization in 1963, solely becoming an electronics retailer in 1975 known as Tandy Corporation.
3. RadioShack Helped Start the PC Revolution
In 1977, RadioShack introduced the very first mass-marketed, fully-assembled personal computer. Named the TRS-80 with a Level II BASIC operating system created by Bill Gates, this PC helped RadioShack become one of the biggest names in the computer business and even introduced one of the first laptops, the “Model 100” in 1983.
2. RadioShack is Struggling…
Since April 2012, RadioShack has continued to report poor quarterly results sinking its stock to an all-time low. In 2013, the company’s stock price sank on rumors that RadioShack would be soon declaring bankruptcy while 2014 led to an even greater loss of over $400 million, forcing the company to close hundreds of nationwide retail locations.
1. …But Attempting to Reinvent Itself
Surprisingly, RadioShack continues to remain afloat. According to the company’s new restructuring campaign, the new RadioShack “continues to roll out dozens of concept stores” while “almost all stores are getting a brighter, bolder, fresh new look.” Along with a new logo and slogan, “It Can Be Done, When We Do It Together,” RadioShack is doing everything it can to stay in business.
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