Amazon’s international losses distended to over $3 billion dollars in 2017 on the back of its India business, where it is fighting off domestic rival Flipkart, which recently infused Rs 1,632 crore into E kart, backed by Softbank. Amazon’s international losses grew to $3 billion in 2017 from $1.28 billion in 2016, while international sales jumped to $54 billion from $43.9 billion.
Views of Brian Olsavsky
“India continues to be a good story for us. We feel that it’s had a lot of growth in the past year. In fact, more Prime members joined India’s Prime program in the first year than we’ve seen in any other country in the history of our world,” said Brian Olsavsky, Amazon’s chief financial offer.
Amazon Invests Rs 8,150 crore in Amazon seller services
According to ET, Amazon, which recently invested in Acko had invested a record capital into its main India unit this financial year, with Amazon Seller Services receiving Rs 8,150 crore, so far in 2017-18. The capital infusions came more frequently last year after Flipkart raised $ 4 billion last year from SoftBank and other investors such as Tencent, Microsoft and eBay.
Amazon’s net sales increases
As Amazon conducted it shopping days such as Black Friday and Cyber Monday as well as Christmas and New Year, its net sales increased 38% to $60.5 billion in the fourth quarter, compared with $43.7 billion in fourth quarter 2016. For the whole of 2017, the company’s net sales increased 31% to $177.9 billion, compared with $136.0 billion in 2016.