Best Buy Co. Inc, the largest specialty retailer of consumer electronics in North America, is accelerating its expansion speed in China, sources reported.

Despite all the uncertainties in the global market, the U.S.-based company plans to add four more stores in Shanghai by the end of this year, and it is also negotiating with relevant parties on opening stores in Beijing, capital of the country, according to Redmond Yeung, president and chief operating officer of Best Buy Asia.

Yeung also revealed the four stores to be launched will be located in Super Brand Mall, Babaiban Commercial Zone and Lianyang Community of Pudong District, and Xinzhuang of Puxi District.

Best Buy opened its first China outlet in Xujiahui district, Shanghai last January. So far, it has invested more than US$1 billion in branding in the Chinese market, said Yeung.