DICK Smith will shelve its consumer electronics retail stores and move into the lucrative online porn trade, it has emerged.
Company chief executive Reginald Worthington said the organisation, which wrote down the value of its stock by $60 million on Monday, would launch dicktube.com.au by the end of the year.
Mr Worthington said there was plenty of scope for growth in the multi-billion dollar internet porn trade, particularly in Australia.
He said the trusted Dick Smith brand would bring respect to the much-maligned industry.
“As a matter of fact, I’m experiencing plenty of growth in my pants just thinking about it,” he said.
Online Business Research director Shayne Smith said the move was as visionary as when Steve Jobs’ brought the iPod to Apple.
“You can almost see the hand Jobs had in it.”
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