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Amazon to keep low-price strategy in China
(Agencies)
Updated: 2004-10-20 10:25

"Amazon.com once has not got any profit in seven years, thus we are not in a rush to get payoff in China." Diego Piacentini, senior vice president for worldwide retail and marketing of Amazon Co., told reporter of Beijing Morning Post lately.

Amazon.com offers a discount price and may lose money on the first sale, but this way they gain more customers who will purchase products later.

Amazon.com has bought Joyo.com, China's biggest Web retailer at a price of US$75 million.

The price competition of Chinese online stores has not yet stopped in the last few months.

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