In its bid to influence the Europe’s electrical goods market, Carphone Warehouse with its US based partner Best Buy, announced the plans for opening 100 new shopping stores in UK.
The stores would offer everything from computers, mobile phones and broadband, to other consumer electronic gadgets including, cameras, DVD players, etc, and the new stores are likely to be similar in size to Best Buy’s existing 30,000 square-feet shopping stores in US.
Back in May, Best Buy purchased 50 percent of Carphone Warehouse’s retail business for GBP1.1 billion, setting up a joint venture to expand in Europe.
According to the deal, the existing 2400 stores of Carphone Warehouse across Europe will continue to have previous brand name, whereas the new stores will be opened under the Best Buy name.
Previously, the group forecasted 4 to 5 percent growth in fixed-line telecoms in UK, but citing the recent credit crunch it has cut down its previous prediction of 400,000 broadband customers to between 200,000 and 250,000, and asserted that the fixed-lines broadband would remain broadly flat.