Amazon to close domestic marketplace business in China: sources
Amazon.com Inc plans to close its domestic marketplace business in China by mid-July, people familiar with the matter told Reuters on Wednesday, focussing efforts on its more lucrative businesses selling overseas goods and cloud services in the world`s most populous country.
Shoppers in China will no longer be able to buy goods from other third-party merchants in the country, but they still will be able to order from the United States, United Kingdom, Denmark and Japan via Amazon`s global store. Amazon expects to close fulfillment centres and wind down its support for domestic-selling merchants in China in the next 90 days, one of the people said. Consumers in China will still be able to purchase Kindle e-readers and online content, the sources said on condition of anonymity.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.