Dixons Carphone has warned it will have to reinvent its mobile business as rising handset prices and a slowdown in technological development prompt shoppers to cling on to their phones for longer.
Pre-tax profit tumbled 60% to £61m for the 26 weeks to 28 October at the group, which owns Currys PC World and Carphone Warehouse, while total sales nudged up 3% to £4.87bn.
Analysts warned of likely store closures as Carphone was dragged down by a 3% fall in like-for-like sales. The business has pledged to deliver a “simpler, less capital-intensive business”. In the second three months of the half year, mobile sales slumped 6%, although more than half of that drop was the result of the delayed launch of the iPhone X.
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