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Richard Murray of Innovate UK explains to Nature Materials how innovation derived from research findings can boost the production of wealth.

\"Where previously you started with a console of $1,000, you're probably going to see prices half that this Christmas and that's making the products much more accessible to consumers.\"

\"The second half, particularly the last quarter, sales did slow. While we continue to see good growth in many areas including appliances, visual, telco, fitness products, that was more than counterbalanced by the market-wide decline in tablets,\" he said. \"It's very early days but the results to date have been really pleasing,\" Mr [Richard Murray] said. \"It's one of the largest markets we play in ... The sales mix is a good outcome.\"

Morningstar equity analyst Farina Parsons said JB Hi-Fi's results were largely positive but the company's downgrading of guidance for Home, its home entertainment and appliance business sparked a short selloff. \"But there was a slight pullback because of reduced guidance from JB Hi-Fi Home, its growth division.\" The company's target of about $5 million incremental sales a year for Home has been backdated to \"in the medium term.\"

He said, \"We maintain our guidance for FY15 total sales of circa $3.6bn and expect the market to remain competitive as retailers drive for market share.\" \"FY15 provides significant opportunities for JB HI-FI including the JB HI-FI HOME rollout, the continuation of our new store rollout program, expansion of our commercial division and the opportunities created both in store and out of store by our new website. \"We continue to invest in the store network, with capital expenditure in FY15 expected to be in the range of $50m to $55m, driven by the new, relocated and converted stores discussed above,\" he said.

Investors on Wednesday reacted to new chief executive Richard Murray's speech at JB Hi-Fi's AGM in which he said the retailer was on track to meet its previous guidance of a 3.4 per cent rise in 2014/15 total sales to $3.6 billion. \"Things do not appear as bad as they were initially presented back in August, although the share price is still quite a long way down from what it was,\" he told AAP. \"One challenge for every retailer whether its JB Hi-Fi, Harvey Norman or Dick Smith is that rent goes up each year and wages go up ... we have to inject growth into the model to ensure we stay ahead of our competitors,\" he said.

He said, \"We maintain our guidance for FY15 total sales of circa $3.6bn and expect the market to remain competitive as retailers drive for market share.\" \"FY15 provides significant opportunities for JB HI-FI including the JB HI-FI HOME rollout, the continuation of our new store rollout program, expansion of our commercial division and the opportunities created both in store and out of store by our new website. \"We continue to invest in the store network, with capital expenditure in FY15 expected to be in the range of $50m to $55m, driven by the new, relocated and converted stores discussed above,\" he said.

\"Where previously you started with a console of $1,000, you're probably going to see prices half that this Christmas and that's making the products much more accessible to consumers.\" \"The connected home is still in it's infancy. People like wireless audio, tablets holders on the wall where they can control the front door or turn on lights through wireless systems.\" \"The market is becoming more competitive so we don't expect to see any significant increase in revenue from the JB Hi-Fi HOME concept,\" he said.