- Adani Group says it lost nearly $55 bn as US charges sparked rout
- Bumper election year brings headwinds for liberal democracies
- New Zealand pace bowler Smith to make debut in first England Test
- Australia remembers cricketer Phillip Hughes 10 years after death
- Protesters for jailed ex-PM Khan cleared from Pakistan capital's centre
- 'Very, very slow': plastic treaty talks grind forward
- Australian cop guilty of manslaughter after tasering 95-year-old
- Trump names trade envoy, top economic advisor to fill policy team
- China expected to hit peak coal consumption in 2025: report
- What to expect from the new EU top team's first 100 days
- New EU commission to get all clear as daunting task awaits
- German family winery taps into zero-alcohol trend
- World leaders react to Lebanon war ceasefire
- Paddington: the affable bear who became a lucrative business
- Hand-built fantasy tower brings value to Tokyo, creator says
- Asian markets mixed as traders eye fresh trade tensions
- Ceasefire begins in Israel-Hezbollah war
- Banned Ryan Garcia eyes New Year's Eve exhibition in Japan
- In US, a guitar trademark feud gets political
- China investigates defence minister for corruption: report
- 'American Railroad' musical project showcases untold immigrant stories
- Future of deep-sea mining stands at a crucial juncture
- Australia marks 10 years since death of cricketer Phillip Hughes
- Russia accuses UK diplomat of spying in fresh diplomatic spat
- Teen who lied about beheaded French teacher's class says 'sorry'
- Drake takes Kendrick Lamar rap feud to US courts
- Bolivia announces $1 bn deal with China to build lithium plants
- NFL-best Chiefs and Lions face short-rest US holiday test
- Alleged smuggler had meth-soaked cow onesie in suitcase: US officials
- Man City blow three-goal lead in Champions League, Bayern beat PSG
- Arsenal deliver Champions League statement of intent: Arteta
- Flick hails 'unbelievable' Lewandowski after 100th Champions League strike
- Man City not 'stable', says Guardiola after Feyenoord collapse
- US stocks rally despite Trump tariff threat but European stocks fall
- Ceasefire to begin in Israel-Hezbollah war
- League fines Hawks $100,000 for Young missing NBA Cup game
- Man City blow 3-0 lead to extend winless run in Feyenoord thriller
- Kim heads Bayern past 10-man PSG to dent Champions League hopes
- Lewandowski hits Champions League century as Barca beat Brest
- Inter take Champions League lead with narrow win over Leipzig
- Arsenal crush Sporting in Champions League to extend revival
- Ceasefire in Israel-Hezbollah war to take effect
- Egyptian clubs go on scoring sprees in CAF Champions League
- Biden hails Lebanon ceasefire deal as 'good news'
- Brazil's Bolsonaro 'participated' in 2022 coup plot against Lula: police
- Barcelona striker Lewandowski scores 100th Champions League goal
- Alvarez, Correa net braces as Atletico thrash Sparta in Champions League
- Autos, food: What are the risks from Trump's tariff threat?
- Alvarez, Correa net braces as Atletico thrash Sparta Prague
- Trump brings back government by social media
SCS | -1.33% | 13.54 | $ | |
BCC | -2.76% | 148.41 | $ | |
CMSD | -0.61% | 24.43 | $ | |
CMSC | -0.65% | 24.57 | $ | |
JRI | -0.98% | 13.24 | $ | |
RIO | -1.53% | 62.03 | $ | |
BCE | -1.46% | 26.63 | $ | |
RBGPF | 100% | 60.1 | $ | |
NGG | -0.68% | 62.83 | $ | |
GSK | -0.38% | 34.02 | $ | |
BTI | 1.01% | 37.71 | $ | |
RYCEF | -0.29% | 6.78 | $ | |
BP | -1.24% | 28.96 | $ | |
AZN | -0.06% | 66.36 | $ | |
RELX | 0.51% | 46.81 | $ | |
VOD | -0.56% | 8.86 | $ |
Amazon to close Kindle bookstore in China
US tech giant Amazon said Thursday that it will stop operating its Kindle e-bookstore in China from next year, closing the chapter on a massive consumer market.
The e-commerce pioneer has in recent years appeared to admit defeat to local Chinese rivals such as Alibaba and JD.com, ending its online retail operations for Chinese consumers in 2019.
Amazon's decision to pull the Kindle service comes about eight years after it first set up an official store for the e-book reader on Alibaba's Tmall platform.
"Amazon will stop operating its Kindle e-bookstore in China a year from now on June 30, 2023," the company said Thursday in a statement on Chinese social media platform Weibo.
This means that customers can no longer buy new e-books, although those that have been purchased can still be downloaded until June 2024 and will remain readable afterwards, it said.
It did not give a reason for ending the service.
Customers can still buy Kindle devices from other Tmall retailers, but not from its official online store.
Amazon said in a separate notice that although it announced "the adjustment of Kindle-related business in China", this does not change its long-term commitment to the market.
"Millions of Kindle reading devices" were sold in China between 2013 and 2018, according to state media outlet China Daily.
The report added that by end-2016, China became the biggest market for these devices.
Kindle's exit is the latest among global brands, after US internet services giant Yahoo pulled out of mainland China last year and Microsoft said it would close its career-oriented social network LinkedIn in the country.
Microsoft cited a "challenging operating environment" as Beijing tightened control over tech firms.
While e-commerce is very popular with Chinese consumers, Amazon has struggled to make headway in the country.
Local competitors such as Alibaba and JD.com have capitalised on their supplier networks and understanding of Chinese consumers to gain market share, before Amazon could acquire a foothold.
Asked about Kindle's exit, Chinese commerce ministry spokesman Gao Feng said was "normal... to adjust products and services according to market development".
Currently, Amazon China has more than 10,000 staff and offices in 12 cities including Beijing, Shanghai, Hangzhou and Shenzhen, the company said.
F.Pavlenko--BTB