BT will start selling smart fridges and gaming consoles to boost sales and raise the profile of EE.
EE, the FTSE 100 firm’s retail division, will begin offering a range of household electronic products from next year, including gaming consoles, laptops, and cameras. This move puts EE in direct competition with major retailers such as Amazon and Currys, while also expanding its online gaming, insurance, and subscription services.
EE has already established a 12% market share in the UK gaming console market within the last six months, starting from scratch. The company aims to target customers who have not yet signed up for its mobile or broadband services by allowing them to create an EE ID to access a wide range of exciting new products, services, and experiences easily and conveniently. EE CEO Marc Allera expressed enthusiasm for this expansion, stating that it will provide customers with more options. Following the announcement, BT shares rose by 0.8%.
EE, which is BT’s biggest revenue driver, generated £2.4 billion in revenue in the three months leading up to June. BT plans to make EE its flagship brand and gradually phase out the BT brand from high streets and homes. Analyst Paolo Pescatore views this expansion into electronics as a threat to other retailers and believes it puts EE in a favorable position compared to its traditional telecommunications rivals.
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