Chinese e-retailer leaving Thailand, Indonesia

By AP News


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Chinese online retailer JD

China Thailand Indonesia

BEIJING (AP) — Chinese online retailer Inc. is pulling out of Indonesia and Thailand amid intense competition in Southeast Asia. will stop taking orders Feb. 15 in both countries and shut down the following month, according to announcements Monday on the two websites.

The company gave no reason for the closures, but e-commerce vendors in Southeast Asia have been squeezed by intense competition, including from’s Chinese rival, Alibaba Group. reported a profit of 6 billion yuan ($800 million) in the quarter ending in September on sales of 243.5 billion yuan ($34.2 billion). That was an improvement from a loss of 2.8 billion yuan ($370 million) on sales of 218.7 billion yuan ($32.4 billion yuan) in the same period a year earlier.’s foreign operations and other “new business” accounted for just over 2% of total sales, the company said.


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Author: AP News

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Originally published by Associated Press, Digitonic Ltd (and our owners, directors, officers, managers, employees, affiliates, agents and assigns) are not responsible for the content or accuracy of this article. The information included in this article is based solely on information provided by the company or companies mentioned above.

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