Dixons Carphone exits Sprint joint venture
Dixons Carphone and Sprint have agreed to end their stores joint venture and focus instead on the deployment of the Honeybee platform.
In July 2015, Dixons Carphone’s Connected World Services division and Sprint entered into an agreement to open and manage a number of Sprint-branded stores in the US and provide certain consultancy services to Sprint. In March 2016 they entered into a further agreement to deploy Honeybee into the Sprint retail estate.
In light of the changing US mobile market landscape and Sprint’s review of its own distribution strategy, the companies have now reached a mutual agreement that CWS will focus on the deployment of the Honeybee platform across the entire Sprint estate and that Sprint will acquire the CWS 50% share of the distribution joint venture.
Andrew Harrison, Dixons Carphone deputy group chief executive, said: “We have enjoyed working with Sprint to accelerate their store opening programme over the last two years and have developed an estate and a pipeline to help support their ambitious growth plans.
“With the significant shift in the US mobile market, now is the right time to transfer these stores to Sprint, and to concentrate on our exciting software business, Honeybee. It has been a privilege to work so closely with Marcelo and his excellent team as they turn around this amazing business and we look forward to making Honeybee as successful for Sprint as it is for us.”
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