Dick Smith has gone into voluntary administration, with receivers appointed to try to claw back debt owed to the company's creditors.
The Australian electronics goods chain entered a share trading halt on Monday, pending an announcement about its "funding position and debt financing covenants", and on Tuesday morning it announced that advisory firm McGrath Nicol had been called in as administrator.
Huawei on Tuesday said its smartphone sales have topped 100 million this year, breaking the record among domestic firms and making it the world's third-biggest mobile brand following Samsung and Apple.
The market share of Shenzhen-based Huawei Technologies Co has risen to 9 percent globally and surpassed 15 percent in China, leading for six straight months, data from a third-party market consultant showed.
Japanese home electronics chain Bic Camera Inc. said Thursday it will set up a joint venture with Japan Airport Terminal Co. to enhance the sale of tax-free products to foreign travelers.
The agreement will combine Bic Camera's distribution networks with the experience of Japan Airport Terminal, which operates duty-free shops at Tokyo’s Haneda and other Japanese airports.
The two companies plan to launch home appliance stores offering consumption tax-free shopping to foreign visitors at domestic and overseas airports as well as urban districts in Japan.
Xiaomi has backed 56 startups so far to build smart devices for it as it looks to expand its business beyond smartphones and become a consumer electronics giant, one of its top executives has revealed.
The Chinese company, which is valued at USD45 billion, sells TVs, smartphones, tablets and WiFi routers, all devices which it produces itself. But it also sells products from water purifiers to headphones, although it does not actually produce any of those.
The smartphone market is set for its slowest ever year of growth, according to new figures on Thursday, while overall shipments for wearable technology continues to soar.
Worldwide smartphone shipments will hit 1.43 billion units in 2015, a year-on-year growth of 9.8 percent, the first full-year of single-digit growth on record, according to data from the International Data Corporation (IDC).
Amazon has partnered with Chinese internet giant Baidu which will provide search features, apps and online video on the US e-commerce site's tablets in China, the company said on Thursday.
The announcement comes as Amazon also launched its Fire tablet in the world's second-largest economy and is on sale for CNY499 (USD78).
Indonesia's telecommunications company PT Indosat Ooredoo has formed a joint venture with major cell phone distributor Erajaya Group to further expand its retail business, part of the mobile phone operator's masterplan to strengthen its digital operations.
New joint venture PT Satera Management Indonesia will run a number of Indosat Ooredoo retail outlets, starting with several locations in Java.
Each company will hold an equal 50 percent share in the venture, which will spend about IDR1 billion (USD72,400) on each new outlet to be built in 2016.
Telco giant Vodafone has thrown open the doors to its new Sydney store in the prime Pitt Street Mall retail strip to take on its next-door neighbour, Microsoft.
In a deal foreshadowed by BusinessDay, it is the 60th store the company has opened in the past 18 months as part of a nationwide retail expansion program. The site was previously leased by Wanted Shoes.
The opening and location reflect the growth in demand for telco devices. Providers are the strongest-performing tenants in shopping centres and their own stand-alone stores.
Dick Smith's pain could be consumers' gain in the lead-up to Christmas, with the electronics retailer preparing to kick off a "70 percent off everything" sale to clear excess stock, potentially prompting rivals to follow suit.
While a price war would be a bonanza for customers, analysts and investors fear profit margins across the AUD16 billion (USD11.66b) consumer electronics sector will come under pressure if market leaders JB Hi-Fi and Harvey Norman cut prices to protect sales and market share.
Optus has removed a new advertisement written in Arabic from a Sydney shopping centre after shop staff were allegedly threatened in the aftermath of the Paris attacks.
The telecommunications company has been fielding enraged comments on Facebook over the past 24 hours and has had to explain that Islam is a religion, not a country, to those threatening to quit Optus over the posters.