Amazon, which has appointed a new president for the Chinese market, said yesterday that it will expand its business from books and consumer electronics to kitchen and fashion.
The local government of Karnataka, a state in South West India, is partnering with two leading e-retailing companies, Snapdeal and Amazon, to create a platform where the small and medium enterprises (SMEs) of the state can sell their products.
While the timeline for setting up of the platform is not yet known, the state government's Information Technology (IT) Secretary Srivatsa Krishna said the platform would have several thousands of SMEs as part of it.
Amazon.com is giving special privileges to companies that sell their wares directly through its online store rather than via its network of third-party resellers.
From a hardware perspective, the Fire Phone carries a bill of materials (BOM) low enough to allow Amazon to cut a profit for each smartphone sold. But with Amazon likely having sunk large amounts of money into developing the Fire Phone's unique features, the company must sell large volumes to recoup its investment, according to IHS.
A day after India's largest e-commerce player announced USD1 billion in new round of funding, Amazon said it will invest an additional $2 billion in its India arm to support rapid growth.
The Amazon India marketplace was launched last year and the company said it has grown to be the largest e-store in India with over 17 million products from a continually growing base of thousands of small and medium-sized businesses
Amazon.com recently introduced a new subscription service, Kindle Unlimited, which allows customers to freely read as much as they want from over 600,000 Kindle books, and listen as much as they want to thousands of Audible audiobooks, all for only USD9.99 a month.
Amazon unveiled on Wednesday its first smartphone - Fire.
The brand new gadget features two new technologies - Dynamic perspective, which it said uses a new sensor system to respond to the way users hold, view, and move the gadget; and Firefly, which recognizes things in the real world like web and email addresses, phone numbers, QR and bar codes, movies, music, and products.
Amazon recently launched a Collectible Coins store, a marketplace that gives customers direct access to more than 10,000 unique US coins. The collection is from 75 industry-leading dealers offering professionally graded and authenticated coins.
The new store is one of the largest online destinations for purchasing graded US coins, with easy-to-use search tools. Customers can explore a vast range of collectible, rare and historical coins from highly regarded dealers, including Stack’s Bowers Galleries, Kagin’s, David Lawrence Rare Coins and Liberty Coin.
According to leading human resources consultancy Randstad India, the hiring in this space is likely to rise by 20-30% in next few years on the back of entry of domestic online start-ups and e-commerce MNCs into Indian marketplace, as also because of setting up of back-office operations for various global businesses.
As foreign and domestic e-retail majors such as Amazon and Flipkart expand their businesses aggressively, hiring activities are expected to grow by over 30 percent in the sector and may help create up to 50,000 jobs in the next 2-3 years.
US e-commerce giant Amazon said on Friday that it has invested USD20 million in Shanghai-based online food vendor Yummy77 as it diversifies its product offerings beyond books and general merchandise.
“Our investment in Yummy77 represents our commitment to China as it shares with us the same dedication for customer service and execution,” Steve Frazier, vice president at Amazon.com, said in a statement.
Amazon, however, didn’t reveal the stake it would acquire in the fresh food website.