Home entertainment retailer JB Hi-Fi expects its profit to fall in the current financial year as its margins are impacted by heavy discounting.

Consumer electronics chain, JB Hi-Fi, says trading conditions have been challenging in the three months to September, but that the launch of the iPhone 4S and other new releases are expected to boost sales.

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JB Hi-Fi Ltd has reported a 7.55 per cent decline in full year net profit and says the market is expected to remain challenging in the period ahead.

In the same month that Borders and Colorado announced they were closing stores all around the country, a small little technology company by the name of Apple celebrated its 10th year in the retail space by becoming more valuable as a company than Microsoft and Intel combined. In the US, more people visit Apple retail stores each year than the four Disney theme parks combined.

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JB Hi-Fi has completed an off market buyback of 10.8 million shares for $173 million.

Electronics retailer JB Hi-Fi Ltd says that despite a recent profit downgrade, it still has a very positive future.

When John Barbuto (JB) opened up his first shop in East Keilor, Victoria in 1974, his philosophy was to provide a specialist range of hi-fi products and recorded music to the public.