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Carphone Warehouse eyes international expansion Thursday, 10th May 2012
Photo credit: Carphone Warehouse press office
Carphone Warehouse is reportedly seeking international partners to aid its expansion outside Britain and France where economic growth is strained, at best.
The telecommunications retailer has said that weakness in the pre-pay mobile phone market had hit fourth-quarter sales, causing like-for-like revenue to dip 5.5 per cent.
The firm has stressed it will still meet forecasts for 2011/12 earnings.
Carphone Warehouse is now looking to expand in China, South America and Eastern Europe.
According to Reuters, the company is now planning to open 14 Best Buy Mobile SWAS stores in Best Buy’s China branded stores.
Carphone Warehouse said in November that full year operating profit would be at the lower end of a £135 million to £150 million forecast – flat compared to the previous year.
On Wednesday the firm said sales at Carphone Warehouse stores in Europe fell 5.5 per cent in the three months to the end of March.
"We estimate that the overall prepay market in Q4 was down 30-40 per cent in the UK, similar to Q3, driven by a lack of attractively-priced smart phone products in this segment, and a weak consumer environment," the company said in a statement.