Dixons Carphone plc
Connected World Services signs agreement with Sprint Corporation to open US stores
Dixons Carphone plc, announces that its Connected World Services (CWS) division has entered into an agreement with Sprint Corporation to open and manage a significant number of Sprint-branded stores in the US. Sprint is a leading US mobile network operator with nearly 60 million customers.
In the initial phase, Dixons Carphone will supply mobile phone retail expertise and proprietary knowledge to Sprint who will open approximately 20 retail stores. If these stores prove to be successful, the parties will progress to a second phase which will involve CWS investing equally with Sprint in a joint venture to support rollout plans of up to 500 stores.
During the second phase, Dixons Carphone will invest up to $32 million to obtain a 50% interest in the new venture, and this cash will be used by the business to fund the roll-out and operation of the stores. Dixons Carphone will also provide support across the whole of the Sprint estate as part of a wider know-how sharing arrangement.
Commenting on the transaction, Andrew Harrison, Dixons Carphone Deputy Group Chief Executive and CEO of the Connected World Services division, said:
"We are delighted to be working with Sprint and to be a part of a transformation in their business that is already making impressive headway. This is a very exciting venture for us, and is a significant step in growing our CWS business in the US. We bring specialist knowledge and skills to this partnership and will be looking to deliver innovation and outstanding customer service under the Sprint brand."
Marcelo Claure, Sprint CEO said:
"We are excited to partner with Dixons Carphone and to leverage all their know-how as one of the world's leading wireless retailers to benefit Sprint and its customers. We are committed to offering the best customer experience when buying wireless products and services"
For further information
Kate Ferry |
IR, PR & Corporate Affairs Director |
+44 (0)7748 933 206 |
Mark Reynolds |
Head of Investor Relations |
+44 (0)7979 696 498 |
Hannah Collyer |
Head of Media Relations |
+44 (0)1727 203 041 |
Nick Cosgrove, Helen Smith |
Brunswick Group |
+44 (0)207 404 5959 |
Information on Dixons Carphone plc is available at www.dixonscarphone.com Follow us on Twitter: @DixonsCarphone and @DCSebJ |
About Dixons Carphone Dixons Carphone plc is Europe's leading specialist electrical and telecommunications retailer and services company, employing over 40,000 people in 11 countries. Focused on helping customers navigate the connected world, Dixons Carphone offers a comprehensive range of electrical and mobile products, connectivity and expert after-sales services from the Geek Squad and Knowhow. Dixons Carphone's primary brands include Carphone Warehouse, Currys and PC World in the UK and Ireland, Elkjøp, Elgiganten, Gigantti and Lefdal in the Nordic countries, Kotsovolos in Greece, Dixons Travel in a number of European airports and Phone House in Portugal, Spain and Sweden. Our key service brands include KNOWHOW in the UK, Ireland and the Nordics, and Geek Squad in the UK, Ireland and Spain. Business-to-business services are provided through Connected World Services, PC World Business and Carphone Warehouse Business. Connected World Services aims to leverage the Group's existing expertise, operating processes and technology to provide a range of services to businesses. |
