One of South Korea's biggest e-commerce firms, Coupang, says its operating loss shrank by a third in 2019. It is helped by a 64% climb in revenue as it expanded its customer base and online demand for home appliances and groceries surged, reports Reuters. Due to the COVID-19 outbreak, Coupang sees its sales jump even more in 2020. Operating loss of the South Korean company
Nearly half of the consumer budget for tech and durable goods in 2020 will be occupied by the smartphone. In a research study by GfK, it is concluded that this is a total turnover of €444 billion. The demand for smartphones is expected to stay stable in 2020, after a slight decline of two per cent in units in 2019. An estimated 1.37 billion smartphones will be sold globally.
eBay is looking to sell its South Korean unit. This includes Gmarket, one of the largest online marketplaces in the country. A Seoul-based newspaper reports the company is looking for a $5 billion deal. The Korea Economic Daily cites an unnamed industry official. It is reported that eBay decided to sell 100% of its stake in eBay Korea. Possible buyers include South Korean
Forming a new joint venture, Germany's Delivery Hero agreed to buy Sout Korea's top food delivery app operator Woowa Brothers. It will cost $4 billion and is meant to take on heavyweights such as Uber Eats in other fast-growing Asian markets. Woowa announced the deal on Friday, reports Reuters. This deal is the biggest global play so far for a food delivery app. According to