Currys is betting on AI gadgets to boost sales as it touts recent tech innovations

Currys hopes AI gadgets will boost sales as it welcomes recent technological innovations.

Alex Baldock, CEO of the electronics retailer, said: “The coming wave of AI-driven technology may well present the most exciting technology 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 useful features, such as helping users improve photography or translate languages.

Currys believes it is “uniquely positioned” to benefit from the momentum of AI and is planning “sensible investments” in stores.

Baldock said the company is now moving in the “right direction” after fending off bids from American and Chinese predators this year.

But investors were unimpressed by the third year of disappointing sales.

In the 12 months to April 27, they fell 2 percent to £8.5 billion.

Shares fell 5.8 percent, or 4.4p, to 71.65p, taking losses since 2021 to 55 percent.

But bosses pointed to a profit of £28m, after a loss of £462m the year before.

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