Amazon to pull plug on China retail operations: report
Team Udayavani, Apr 18, 2019, 11:45 AM IST
Shanghai: Amazon is planning to close down online retail operations catering to consumers in China, in an apparent admission of defeat to local e-commerce rivals such as Alibaba, a report said on Thursday.
The US e-commerce pioneer will maintain other operations in China such as Amazon Web Services (AWS), Kindle e-books and cross-border teams that help ship goods from Chinese merchants to customers abroad, Bloomberg News said, citing unidentified people familiar with the plans.
Although dominant in the United States and some other markets, Amazon has struggled to compete in China with the likes of Alibaba and JD.com, who are hugely popular in the country.
This comes despite Amazon’s investment in logistics in China and its acquisition in 2004 of Chinese online book seller Joyo.
An Amazon spokesperson did not explicitly confirm the pull-out plans, but said the company was looking to focus more on cross-border sales.
“Over the past few years, we have been evolving our China online retail business to increasingly emphasise cross-border sales, and in return we’ve seen very strong response from Chinese customers,” the spokesperson said in a statement emailed to AFP.
The company was making “operational adjustments to focus our efforts on cross-border sales in China”, the statement said.
It added that “we will continue to invest and grow in China across Amazon Global Store, Global Selling, AWS, Kindle devices and content.” Bloomberg called the move the latest sign that Amazon, due to the difficulty competing with Chinese rivals, would focus its overseas attention on India’s growing market.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
New software for fast-tracking project approvals: Karnataka Minister Patil
In-flight passengers can access WiFi services only when allowed, say new rules
SEBI mulls separation of non-regulated activities; ‘cross-default’ definition for debenture trustees
Sensex plunges 942 points to settle at nearly 3-month low; RIL, HDFC Bank biggest drag
Equity investors become poorer by Rs 7.37 lakh crore during morning trade as markets tumble
MUST WATCH
Latest Additions
Salman Khan gets another threat, asked to cough up Rs 5 cr
Mangaluru: Vishwa Konkani Samaroh to be held on Nov 5 and 6
Canadian cop suspended for attending pro-Khalistan protest outside Hindu temple
Rahul Gandhi to attend caste census meeting in Hyderabad today
Udupi: Gas cylinder explosion during party causes extensive damage in apartment
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.