Mr Price makes R570 million by selling cellphones

Mr Price has released its interim results and reports that its telecoms segment generated R570 million in revenue during the 26 weeks from 2 April to 1 October 2022.

The company said that this is a 9.2% increase in revenue.

It also noted that its telecoms segment now contributes 3.9% to all retail sales.

Mr Price said cellular merchandise and data is now available in 683 stores across the group.

“Cellular handsets and accessories gained 130 [basis points] of market share according to Growth for Knowledge, with the segment exceeding the 5% market share threshold for the first time,” the company said.

It also reported that standalone Mr Price Cellular stores exceeded expectations, with further rollouts planned.

“It’s been a tough period for trading, but against all the uncertainty, we’ve gained traction on our strategy implementation,” said Mr Price CEO Mark Blair.

“Our acquisitions have been value accretive, we launched the Mr Price Baby concept, [and] proved the business case for a rollout of Mr Price Cellular stores.”

In addition to selling cellular handsets, Mr Price also has a mobile virtual network operator that runs on Cell C’s platform.

Mr Price Mobile’s data bundles are summarised in the table below.

It offers voice calls for R0.99 per minute, and out-of-bundle data for R0.50 per megabyte.

Now read: Afrihost Air Mobile and Capitec Connect cheaper than FNB and Mr Price Mobile

Subscribe to our daily newsletter

Mr Price makes R570 million by selling cellphones