Investigators probing the books of Dick Smith want to know what happen to thousands of Apple iPhones that were ordered by the mass retailer from Apple Australia but never sold in their stores.
According to sources Apple were furious when they found out that a “discount” deal for tens of thousands of Apple iPhone’s specifically configured for the Australian market, were shipped overseas by the retailer and not sold as intended via Dick Smith retail stores.
According to sources documents were “falsified” resulting in at least two senior people quitting the Company.
The executives who did not want to be involved in what has been described as “dodgy” practises said that the shipment of Apple iPhone stock was “just one of several questionable” deals that went down at the mass retailer.
According to sources, investigators from both Ferrier Hodgeson and the Australian Securities and Investment Commission have been made aware of the questionable deals, after former Dick Smith staff who quit the Company took their concerns to external government organisations.
Apple Australia and Ferrier Hodgson have refused to comment for this story.
According to information obtained by ChannelNews Dick Smith was using Apple products to drive sales, their best performing outlet was the Move store at Sydney airport.
“Apple were shipping hundreds of their products to this Move store every week” said one previous manager.
“The problem was that Dick Smith was not making money selling Apple products as they used the brand to drive sales into stores”.
Recently ChannelNews obtained the financials developed by Ferrier Hodgson that reveals their forecasts for the retailer. (This will appear in a separate story).
