Phones 4u drops plans for wearable tech 'kick starter' arm following collapse into administration
Phones 4u has abandoned plans to create a wearable tech “kick starter” arm, which would have seen the company offer support to British innovators, following its collapse into administration last week.
Through the arm the mobile phone retailer had been planning to help start-ups to merchandise their products in-store and work with local communities to encourage entrepreneurship.
The plan was to integrate the scheme into the company's wider Be Smart inititative which was launched to help consumers understand the different categories of wearable technology such as health, gaming and smart living.
Phones 4u last week entered administration after EE decided not to renew its contract with the firm, instead electing to focus on ‘direct channels’.
The blow came after Vodafone also cut ties with the company to focus on its relationship with the newly merged Dixons Carphone.
Around half of Phones 4u’s staff, including marketing, are set to lose their jobs after administrators PwC announced it will shut 362 stores.