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Best Buy CEO Doesn’t Expect “Huge Lift” From iPhone 6

Wed, 08/27/2014 - 12:07pm
Ben Munson

Best Buy CEO Hubert Joly told investors he doesn’t expect a “huge lift” in sales from the upcoming release of the new iPhones, according to Bloomberg.

The struggling electronics retailer had earlier in the year displayed cautious excitement over what new Apple products could mean to its sales. But Joly said the impact from phones coming out this year will be minimized because many consumers already have them and Best Buy is unsure about how many devices it will receive.

Best Buy Tuesday reported its second-quarter numbers. The retailer saw its net income drop 45 percent annually, and the company’s stock subsequently fell 7 percent in afternoon trading.

The iPhone 6—expected to come in both 4.7- and 5.5-inch display models—will reportedly debut on Sept. 9.

Best Buy sells smartphones as well as service from all four major U.S. wireless providers and prepaid carriers like Boost Mobile and MetroPCS.

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