Amazon suffers a loss of Rs 1,724 cr in India
Amazon Inc’s net loss in its Indian unit has risen to Rs 1,724 crore in the year ending March 2015. The company’s major source of revenue is advertising, seller commissions and sale of its Kindle e-reader. The top 3 firms in this business including Flipkart, Amazon and Snapdeal suffered a combined loss of Rs 5,052 crore.
Amazon has emerged as the largest online store in India in 2015, adding over 55,000 new products to its inventory per day, a company statement said on Thursday.
Amazon.in was also listed as the most visited e-commerce site this year by comScore with 70 percent of their traffic coming from mobiles.
With just a click of the mouse, e-commerce platforms will deliver cow dung cakes right to your doorstep.
The Chinese Internet giant’s stock has been plunging amid an array of problems. Expect more trouble ahead.
The Maharashtra Food and Drugs Administration (FDA) has ordered the filing of a first information report (FIR) against e-commerce major Snapdeal.com's CEO, directors and distributors on charges of selling prescription drugs online, a top official said here on Friday.