Alibaba Gets Better of Amazon: US Ecommerce Giant Prepares To Shut China App Store Amid Rivalry and Regulatory Headwinds

Benzinga2023-05-25

Amazon.Com, Inc (NASDAQ: AMZN) looks to close its official app store in China on July 17, following plans to shut down its Kindle e-book service in 2022. The company also prepared to discontinue its ...

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The company did not provide any reason for the closure.\nAlso Read: Microsoft's LinkedIn Slashes 716 Jobs Under Its China Strategy\nHowever, its official shopping site Amazon.cn, and other services like Amazon Global Selling, Amazon Global Store, and cloud unit Amazon Web Services (AWS) will remain operational.\nChina's data and privacy regulations and fierce competition from local players made it difficult for foreign businesses to operate in the leading internet service market.\nHowever, Amazon's Appstore, operating since 2011, can still be used in mainland China without a VPN, unlike banned U.S. apps like Meta Platforms Inc (NASDAQ: META) Facebook, and Twitter Inc.\nAmazon trailed in popularity among all e-commerce platforms in China, far behind the top three Alibaba Group Holding Limited's (NYSE: BABA) Taobao, JD.Com, Inc (NASDAQ: JD), and short video app Douyin.\nPrice Action: AMZN shares traded lower by 0.25% at $115.46 premarket on the last check Thursday.\nPhoto by Body Stock and Dragon Claws via Shutterstock\n\nDon't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.\nThis article Alibaba Gets Better of Amazon: US Ecommerce Giant Prepares To Shut China App Store Amid Rivalry and Regulatory Headwinds originally appeared on Benzinga.com.\n© 2023 Benzinga.com. Benzinga does not provide investment advice. 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