The Carphone Warehouse has moved to dismiss reports that its stores will be selling video games consoles from today – whilst promising information on its new giant Best Buy outlets later this month.

US retail goliath Best Buy announced a £1.1 billion investment in Carphone Warehouse in May this year, which saw the mobile retailer hand over 50 per cent of its European and US retail interests.

These are likely to soon be rebranded as Best Buy stores – and possibly expanded in size – in areas including the firm's natural home in the US, retail parks.

News on the product mix and location of these stores is due on October 14th, the Carphone Warehouse has told MCV.

MCV understands games will play a very prominent part in this announcement, as the industry continues to show very attractive profitabiity in the face of the UK's economic difficulties and 'credit crunch'.

In other news, the business has rubbished a report in The Register, which suggested games consoles would be sold in Carphone Warehouse stores from today.

According to the news site, ‘a representative from a London branch confirmed the firm will sell consoles like the PS3 and Xbox 360 from today’.

However, a Carphone Warehouse spokesperson told MCV:

“We’re bringing the Best Buy format to the UK next year. That’s the only news there is. Any reports that The Carphone Warehouse is selling video games hardware are incorrect. The Carphone Warehouse does not sell consoles.

“Best Buy is a different proposition, and we will be announcing our product range for that chain later this month.”