After touring overseas electronic stores to study modern merchandising methods, Smith introduced self-serve shopping, a breakaway from the longstanding counter-sales setup found in component sales at the time, and produced an annual mail-order catalogue with a substantial data section.

For example, Smith claimed that he would tow an iceberg from Antarctica to Sydney Harbour, cut it up into small bits and sell it for 10 cents a cube.

On the morning of 1 April 1978, it appeared as if he had succeeded as hundreds of phone calls reporting the iceberg began flooding into local newspapers and radio and television stations, most of which were from Dick Smith employees.

The "iceberg" turned out to be a barge cloaked in white plastic sheeting and topped with firefighting foam, an April Fool's joke.

[11] The company expanded its product range, especially during the 1970s and 1980s, and stocked items such as the Heathkit electronic kits, satellite TV receiving stations, Beeple pagers and The Dick Smith Wizzard computer game.

[13] These were several times bigger than regular stores at approximately 2,000 square metres (22,000 sq ft) and contained departments for the main product categories and supermarket-style checkouts.

Electronic kits were transferred to the smaller DSE stores and were replaced by the short-lived appearance of small appliances such as kettles, coffee makers, toasters and frypans.

The store's design and product range was completely reworked incorporating a more modern feel while removing all electrical componentry and much of its tools.

These products were replaced with a larger range of Windows computers, gaming, televisions and Mac computers, much of which had previously been only sold in Powerhouse stores.Following further strategic review, the company decided to push forward with the new concept under the reworked "Dick Smith – Talk to the Techxperts" branding, merging all existing Dick Smith Electronics and Powerhouse stores under the same banner.

[15] "Large Format Stores" opened in Chadstone Shopping Centre and Bendigo, Marion, Perth, Innaloo, Rockingham, Hobart and Stockland Rockhampton under new "Dick Smith – Talk to the Techxperts" branding.

On 31 January 2012, after nearly 30 years of ownership, Woolworths announced that after the results of a strategic review and a $300 million restructuring, it would close up to 100 Dick Smith stores and sell the business.

It has been argued that Anchorage only put up $10 million in cash, the remainder of the funds being sourced from the business itself through liquidation of inventory, plant and equipment, and taking provision for future onerous lease payments, a process described as "the greatest private equity heist of all time".

[26] From 1 October 2013, Dick Smith took over the operation of the home entertainment department in 30 David Jones retail stores in Australia and online.

[28] Prior to bankruptcy, management used fraudulent accounting methods to acquire $125 million in loans falsely alleging it was needed to purchase stock for boxing day sales.

[32] On 4 January 2016, with the value of shares in Dick Smith Holdings having fallen by more than 80% since they were listed on the ASX in December 2013, a halt in trading was requested.

[46] Though not connected with the company for 34 years, its founder Dick Smith expressed dismay at the closure and put it down to the "utter greed of modern capitalism".

It operated a small buying office and one retail store, at two locations in Ashley Road, Tsim Sha Tsui, Hong Kong.

[49] In 1992, the company acquired and rebranded the retail business of David Reid Electronics, a similar chain that at one time consisted of about 30 stores.

From 1980, DSE operated a small number of stores in the United States, in Northern California and Los Angeles, but had closed by the end of the decade.