• by Aaron Baar , January 10, 2011

Best Buy on Monday launched what it called it's "Buy Back Program," intended to ease consumer concerns about electronics obsolescence.

In essence, the program gives consumers buying laptops, netbooks, tablets, mobile phones and televisions the ability to purchase Buy Back protection for an extra fee, guaranteeing that Best Buy will purchase the product back (at a reduced rate) within two years for laptops, netbooks, tablets and mobile phones, and four years for televisions.The amount of protection (or buy back rate) goes down over time For instance, a consumer wishing to resell a tablet within six months of purchase will receive a gift card worth up to 50% of the original purchase price. Within a year, the re-purchase rate drops to 40% and so on.

"We recognize that technology is changing faster than ever, and our customers tell us they want to enjoy these devices without worrying about when the next or newest version will launch," said Brian Dunn, chief executive officer of Best Buy, in a statement"We call this 'future-proofing' because our customers can now have more confidence that they're protecting the value of the products they're purchasing today."

According to a company representative, Best Buy will promote the program first through in-store promotions and consumer collateral, ramping up marketing through the month of January. The program will become the subject of television advertising, through both broadcast and cable networks, in February, and it will be part of the retailer's first-ever Super Bowl spot airing on Feb. 6.