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Carphone to partner Samsung on Europe stores
January 29, 2014 / 7:57 AM / in 4 years

Carphone to partner Samsung on Europe stores

LONDON (Reuters) - Carphone Warehouse CPW.L, Europe’s No. 1 independent mobile phone retailer, has signed a deal with Samsung Electronics Co Ltd (005930.KS) that will see it operate over 60 Samsung stand-alone stores across the continent, it said on Wednesday.

A sign is seen outside the Carphone Warehouse's store on Oxford Street in central London April 30, 2013. REUTERS/Andrew Winning

Through the “preferred partner” agreement new stores selling Samsung’s full range of mobiles, tablets and laptops, will be rolled out in the next three months across seven European markets - the UK, Ireland, Germany, Spain, Portugal, Sweden and the Netherlands.

Carphone said there was potential to expand the relationship with Samsung, the world’s biggest smartphone vendor.

The deal with Samsung is the latest in a series of Carphone collaborations.

It already has relationships with Media Markt/Saturn MEOG.DE and Metro Group in the Netherlands and Germany respectively.

Last week Carphone beat forecasts for third-quarter revenue growth at its main CPW Group business, helped by growing sales of 4G superfast mobile broadband products.

Shares in Carphone, up 19 percent over the last year, closed Tuesday at 269.2 pence, valuing the business at 1.6 billion pounds ($2.7 billion).

($1 = 0.6030 British pounds)

Reporting by James Davey, Editing by Paul Sandle

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