|
The chief executive officer of Currys PLC has said the electronics retailer is ‘quite concerned’ about the potential future impact of chip shortages linked to the artificial intelligence boom. Alex Baldock said the pressures on supply for chips caused by the rapid growth of the AI sector could result in price inflation. At event in Reading, Berkshire, earlier this week, the CEO of the London-based electrical and telecommunications retailer said: ‘It is something we are quite concerned about. We were out on the west coast of California meeting partners recently on this point. AI is hoovering up the supply of memory and that means there is less for the stuff that we sell, and that’s the reality at the moment.’ He said the group has a sufficient pipeline of all products until ‘back to school this year’, but the business ‘might have to see some price inflation’ because of competition in the market. However, he said that Currys’ market dominance in the UK would put it in a strong position to secure tech in the face of supply or pricing challenges. The comments come amid a challenging backdrop for many retailers, with global macroeconomic uncertainty adding to an early cautious consumer environment. Nevertheless, bosses at Currys indicated that their supply chain should not be affected by the conflict in the Middle East. Chief Operating Officer Lindsay Haselhurst told the Press Association that ‘there’s a limited amount of product actually coming out of that region, so that’s why directly there is very little impact for us’. Haselhurst added that the company had been considering rerouting current shipments going around the Cape of Good Hope to go through the Middle East, but this ‘potential upside’ has been knocked back. However, Baldock said the ‘biggest risk’ for the business was any secondary impact on consumer demand. ‘War and spiky energy prices feeding through into higher inflation and lower consumer purchasing power isn’t great for consumer confidence and spending,’ he said. Currys shares fell 1.3% to 143.40 pence each on Friday morning in London. By Henry Saker-Clark, Press Association Deputy Business Editor Press Association: Finance source: PA Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
