AI revolution: Currys chief exec Alex Baldock
Currys hopes AI gadgets will soup up sales as it hailed recent innovations in tech.
Alex Baldock, the electrical retailer’s chief executive, said: ‘The coming wave of AI-led tech offers arguably the most exciting tech cycle since the Apple iPad in 2010.’
Products already doing well include the £1,249 Microsoft Copilot+ laptop and the £799 Samsung Galaxy S24 phone.
They have savvy features such as helping users to improve photography or translate languages.
Currys believes it is ‘uniquely placed’ to cash in on AI’s momentum and plans ‘judicious investments’ in stores.
Baldock said the business was now heading in the ‘right direction’ after it fended off bid attempts from US and Chinese predators this year.
But investors were unimpressed by a third year of downbeat sales.
They fell 2 per cent to £8.5billion in the 12 months to April 27.
Shares fell 5.8 per cent, or 4.4p, to 71.65p, taking losses to 55 per cent since 2021.
But bosses pointed to profits of £28million after a £462million loss the year before.
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