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

  • 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 Amazon Appstore, launched in 2011 as an alternative to Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGLGoogle for Android phone users to install apps and games, SCMP reports. The company did not provide any reason for the closure.

  • Also Read: Microsoft's LinkedIn Slashes 716 Jobs Under Its China Strategy

  • However, its official shopping site Amazon.cn, and other services like Amazon Global SellingAmazon Global Store, and cloud unit Amazon Web Services (AWS) will remain operational.

  • China'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.

  • However, 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: METAFacebook, and Twitter Inc.

  • Amazon trailed in popularity among all e-commerce platforms in China, far behind the top three Alibaba Group Holding Limited's (NYSE: BABATaobaoJD.Com, Inc (NASDAQ: JD), and short video app Douyin.

  • Price Action: AMZN shares traded lower by 0.25% at $115.46 premarket on the last check Thursday.

  • Photo by Body Stock and Dragon Claws via Shutterstock

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This 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

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