Jun 20, 2019

Dixons Carphone shares plunge on mobile phone woes

Shares in Dixons Carphone have plunged by a quarter after it reported a full-year loss and predicted more pain for its mobile phone business this year. In December, the retailer wrote down the value of its mobile business, Carphone Warehouse. It has been struggling with slowing sales of mobile phones, as people renew their handsets less frequently, and falling demand for long-term mobile contracts. "So, we're moving faster to respond." He said the company had renegotiated all its legacy network contracts, developed a new "Customer offer", and was accelerating the integration of mobile and electricals into one business. "We expect mobile will at least break even within two years, and beyond that, equipped with a stronger and unconstrained offer, we will of course aim to do better."

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