Google Retail Store: A week or so ago, we brought you this story: Is Google Inc Really Going to Open Retail Stores? At the time, it appeared that Google Inc (NASDAQ:GOOG) was all set to open a few retail stores in the United States in 2013.
While this may still happen, it does not appear nearly as likely. AllThingsD.com is reporting that this may not happen after all.
Google is one of the hedge fund industry’s most popular stock picks, and it’s always important to pay attention to the smart money (see just why here).
Here is what the article has to say:
“Despite reports that Google has been eyeing real estate for physical stores, Android chief Andy Rubin says the company really doesn’t need its own retail effort.”
This would not be the first time an executive at a major tech company downplayed a major move. That being said, there may be reason to believe what Rubin is saying. After all, the search engine company has had good success with its devices in the past with no retail presence.
There used to be a time in the not so distant past that consumers wanted to touch and feel a product before buying. Rubin does not feel that this is the case in today’s day and age. Instead, he believes that consumers can get all the information they need by reading reviews online and discussing the device with others.
Here is what he had to say when speaking with reporters at the Mobile World Congress event earlier this week:
“They don’t have to go in the store and feel it anymore.”
He then went on to add that Google Inc (NASDAQ:GOOG) is just getting started in its journey into hardware:
“For Nexus, I don’t think the program is far enough along to think about the necessity of having these things in a retail store.
At this point, you may still not believe what Rubin has to say. However, maybe this will clear things up. Here was his response when asked if Google Inc (NASDAQ:GOOG) may have any general interest in retail stores:
“Google has no plans and we have nothing to announce.”
Do you think Rubin is bluffing or do you believe that Google is not going to open retail stores anytime soon? Share your thoughts in the comment section below.
Check back here for more updates on Google Retail Store.
DISCLOSURE: I have no positions in any stock mentioned.
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