Articles about electricals

Microsoft to acquire Nokia’s handset business for €5.44 bn
Photo credit: Nokia

Microsoft Corp has announced it will buy Nokia Oyj’s phone business and license its patents in a deal worth EUR 5.44 billion. The acquisition marks Microsoft’s boldest move to date into mobile devices, despite some investors urging the multinational software corporation to focus on its key strengths of business products and computer services.

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Best Buy founder Schulze to start selling off shares in October
Photo credit: Best Buy

Richard Schulze, founder and former chairman of the world’s largest consumer electronics chain has announced he plans to start selling its stocks from 1 October, according to a regulatory filing on Monday. "The stock sales ... are part of his personal long-term strategy for asset diversification and liquidity," Schulze told Best Buy, according to the filing.

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Comet’s second coming? Property tycoon eyes gap in market

Clive Coombes, a Southampton-based property tycoon who initially failed to buy Comet from administrators at the start of the year, is said to be setting up a rival electronics store which will see the collapsed retailer return to the high street.

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John Lewis' weekly sales rise 7.1% as electricals streak ahead
Photo credit: John Lewis

Sales at John Lewis’ regional stores and food operations bought in mixed results as a classic British summer left shoppers between rain and sun rays. David Barford, director of selling at the retailer, on Friday said: “The week saw the continued mixed bag of weather that typifies a British summer and with this our customers seized the opportunity to shop with us.”
“We finished the week with sales up 7.1 per cent up on last year and our strongest day of the week was Saturday, up 21.8 per cent.

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Former Comet owners recoup £54m from collapsed retailer

Documents filed at Companies House find OpCapita vehicle Hailey Acquisitions Limited (HAL) has so far been paid £54 million from the sale of Comet’s stock and equipment after the electronics retailer collapsed in November last year.

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John Lewis sales rise 13% as online surges ahead
Photo credit: John Lewis plc

Strong sales gains made by the department store as online purchases were up by nearly 25 per cent year-on-year. Total sales rose 13 per cent for John Lewis in the seven days to 27 July, with all three of its trading directorates and both channels posting positive increases.

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Android muscles in on Apple and Windows' market share in Q2

Apple and Windows-branded tablets lost out on market share to Android in the second quarter, according to Strategy Analytics.

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Samsung poised to acquire German lighting specialist

Samsung is close to acquiring Novaled AG, the German lighting specialist, according to people close to the matter.

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Amazon reports a loss for its 2Q following its push for expansion

The online retailer has reported a loss in its second quarter after expenditure towards digital content rights dug into its profit margins, pushing it into the red regardless of it leaping to 22 per cent in revenue.

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Apple receive an iPhone boost despite a profit slump
Photo credit: Apple

Apple Inc surpassed Wall Street expectations on Tuesday when sales of its marquee product, the iPhone, soared 51 per cent, propelling its stock up 5 per cent despite profit falling. Although the result may reaffirm the company’s presence in the highly coveted smartphone market, overall profit took a 22 per cent dip as gross margins slid below 37 per cent.

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