Amazon Announces To Stop Supplying Kindle In China

Amazon Announces To Stop Supplying Kindle In China

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Amazon.com announced on Thursday that it will stop selling its Kindle e-readers in China and will close its Kindle e-bookstore there, marking the latest U.S. tech company to abandon the country’s tight market.

On Thursday, Amazon (AMZN) announced the move on its official WeChat account, stating that it was altering its strategic emphasis and its other market segments in China would continue. Cross-border e-commerce, advertising, and cloud services are among Amazon’s surviving businesses in China.

The Kindle China e-bookstore announced that it will stop selling ebooks on June 30. However, clients will be able to download any purchased books for another year.

The Kindle app will likewise be removed from Chinese app shops. However, according to the company, the termination of Kindle’s China operation was not caused by government pressure or censorship.

In recent months, several Western internet companies, such as LinkedIn, have reduced or abandoned their operations in China, owing to government efforts to strengthen control over online content and new legislation aimed at data sharing and consumer privacy.

A Chinese offer of $3.60 per share for Glencore’s minority holding in coal miner Yancoal Australia Ltd is likely to be rejected as too low. Yankuang Energy Team conducted a $1.8 billion offer last week to buy 37.7% of Yancoal.

Due to power shortages in China and a European gas deficit aggravated by Russia’s invasion of Ukraine, interest in thermal coal, the most polluting fossil fuel used to create energy, is high.

Glencore’s approval is necessary for Yankuang to reach the 90 percent ownership mark. It would be able to buy all of the limited numbers of shares held by individual and institutional investors and bring Yancoal private under certain restrictions.

India is debating whether to establish an appeals tribunal with authority to overturn social media companies’ content moderation judgments, which would be the first of its type in the world.

The information was revealed in a document soliciting feedback on proposed modifications to IT rules that went into force last year with the goal of regulating social media material.

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