UK electrical retailer Currys experiences a 10% increase in pre-tax profits, reaching £118 million, attributed to the adoption of AI-enabled products like Samsung’s Galaxy S24. CEO highlights the transformative potential of AI in consumer electronics despite challenges in the market.
Currys Leverages AI Technology Amid Profit Increase
Currys, a prominent UK electrical retailer, reports an uptick in its pre-tax profits, which rose by 10% to £118 million despite a 2% slide in UK like-for-like sales and a 3% drop in Scandinavia for the financial year ending April 27. The retailer’s success is partially attributed to AI-enabled products, notably Samsung’s Galaxy S24 mobile phone, which features enhanced photography and instant translation capabilities.
CEO Alex Baldock highlighted the significant potential of AI technology in transforming consumer electronics, likening it to the tech revolution sparked by the Apple iPad in 2010. The company has also introduced new AI-driven products, including Microsoft’s Copilot+PC, video games with AI components, and improved customer service using AI chatbots.
Despite a challenging environment due to the cost of living crisis, Currys sees positive signs with rising consumer confidence and stronger economic optimism. However, shares fell by 6% on announcement day and were later down by 4%, valuing the company at nearly £820 million.
Dwayne Johnson and Chris Evans Star in “Red One”
Amazon MGM Studios has released the first trailer for “Red One,” featuring Dwayne Johnson, Chris Evans, and J.K. Simmons as Santa Claus. The film follows the storyline of an E.L.F. Task Force Commander who teams up with a bounty hunter to save Christmas after Santa is kidnapped. The cast also includes Lucy Lui, Bonnie Hunt, Mary Elizabeth Ellis, Nick Kroll, and Kiernan Shipka. Written and co-produced by Chris Morgan, “Red One” is set to premiere on November 15.
