[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Thursday, 19 August, 2004, 15:07 GMT 16:07 UK
Amazon moves into Chinese market
Amazon
The world's largest web retailer posted disappointing results in July
US internet giant Amazon.com is buying China's largest web retailer Joyo.com, in a deal worth $75m (41m).

Amazon is making its entry into the fast-growing Chinese market after several months spent searching for a suitable partner or acquisition target.

Joyo's principal activities are the sales of books, music, movies and toys on the internet at discount prices.

Analysts believe the Chinese deal is part of Amazon's efforts to maintain rapid revenue growth.

Seattle-based Amazon said it did not expect the deal to have a significant impact on its net sales or operating profits for the third quarter of 2004.

Meanwhile, executives at Joyo said this week that they expect its revenue to nearly double in 2004.




SEE ALSO:
Amazon's profits below the mark
23 Jul 04  |  Business
Amazon profits from sales surge
22 Apr 04  |  Business
Amazon finally flows into profit
27 Jan 04  |  Business
Amazon investigated over CD sales
08 Jan 04  |  Entertainment
Will Amazon please in 2004?
22 Oct 03  |  Business
Amazon moves back into profit
21 Oct 03  |  Business


RELATED INTERNET LINKS:
The BBC is not responsible for the content of external internet sites


PRODUCTS AND SERVICES

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
Americas Africa Europe Middle East South Asia Asia Pacific