Rumor: Electronics Chain Stores Pressure 360Buy Suppliers
Tencent Tech, 12/15/10
An industry source said today that in order to contain Beijing-based IT products B2C e-commerce platform 360Buy's attempts at expansion, Chinese home appliance and consumer electronics retailers Gome (0493.HK) and Suning (002024.SZ), among other retail giants, have contacted suppliers around the country to demand that they restrict shipments to 360Buy.
360Buy CEO Liu Qiangdong predicted recently that the company's home appliance sales could surpass RMB 5 bln next year.
Keywords: forecast sales revenue Liu Qiangdong consumer electronics e-commerce Internet retail B2C 360buy Gome Suning IT products 002024.SZ 0493.HK home appliances hardware
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