.gif "Cash Connect")
Major UK retailer to enter mobile service market
RETAILER NEWS
BusinessTech.co.za - Jul 2nd, 10:23
Sainsbury, Britain’s third-biggest supermarkets operator, said on Monday it is to enter the mobile phone service market later this year as it seeks to add more business streams to complement its core grocery offer.
The firm, which trails Tesco and Wal-Mart’s Asda by annual revenue, said it has teamed up with Vodafone to create the “Mobile by Sainsbury’s” network service.
Details of the joint venture’s product range and pricing will be announced at launch later this summer.
Sainsbury’s currently sells mobile phones and offers prepaid SIM cards for other networks but does not provide its own virtual network service. Tesco has been offering mobile services since 2003.
Going into new business markets forms a core part of Sainsbury’s strategy. Over the last year it has entered the markets for eBooks, mp3 downloads and video on demand services.
In May the firm bought out the 50 percent of the Sainsbury’s Bank joint venture with Lloyds Banking Group it did not own.
Last month Sainsbury’s outperformed Tesco with a rise in first-quarter like-for-like sales.
Shares in the firm were down 0.3 pence at 355.2 pence at 0819 GMT, valuing the business at 6.75 billion pounds ($10.2 billion). ($1=0.6593 British pounds)From BusinessTech.co.za
Related News
Samsung offers to end patent disputes
18/10/2013 - 08:53
Samsung Electronics has offered to stop taking rivals such as Apple to court in Europe over patent disputes in order to end an antitrust investigation, European Union regulators said on Thursday.
Sainsbury’s plans ‘dark store’ UK
15/10/2013 - 11:14
London - J Sainsbury, Britain's No. 3 supermarket, plans to open its first distribution centre dedicated to online grocery orders in response to rapidly increasing demand in south-east England.
Tesco leads European shares lower
04/10/2013 - 11:33
London - Tesco led European shares lower early on Wednesday after the world's third largest retailer's quarterly revenues flatlined as its turnaround plan failed to bear fruit, prompting earnings downgrades.
BlackBerry reports $965 million loss
30/09/2013 - 13:19
On Friday, struggling mobile handset maker BlackBerry reported a loss of $965 million, or $1.84 per share diluted, for the three months ended August 2013, compared with a prior loss of $235 million.
Business leaders hail census results; Kenya’s population grows
26/09/2013 - 11:10
The business community has welcomed the release of the census results earlier this month saying they will help them plan their business operations.
