Technology and electronics retailer Best Buy Co. Inc. unveiled a new logo May 9, the first update in nearly three decades.

The company said the new logo suits today's digital world by making it more modern and easier to read.

The "Best Buy" text retained its bold format and black font, but it is now placed outside the yellow tag. The logo is already in use on the company's website and in digital ads and TV commercials.

The logo will soon be rolled out on uniforms, shopping bags and other signage.