Amazon announced plans to close its Kindle e-book stores in China by June 30, 2023. The decision will end a nine-year venture of the US tech giant in the Chinese market.
The announcement came on the e-commerce company's Weibo account on Thursday, as it informed the Chinese consumers that they will be able to download previously purchased e-books until June 30, 2024 because the app will be removed from the Chinese app stores in the same year.
According to CNBC, the company added further that refunds will only be offered to those who purchased a Kindle this year.
There was no specific reason given by the Kindle maker on this retreat but it mentioned that its existing businesses in the Chinese market will not be affected by this decision.
"Amazon's long-term development commitment in China will not change. We have established an extensive business base in China and will continue to innovate and invest," the Weibo announcement of the e-commerce company read.
It is believed that China's strict data privacy laws coupled with internet rules and rising competition from domestic companies prompted Amazon to pull out of the Chinese market, Wion reported.
China became an important market for Amazon when it first launched Kindle to the readers in 2013. In a move expand the Kindle business in the country, according to a Reuters investigation the e-commerce company had attempted to join hands with the Chinese propaganda arm to introduce a "China Books" portal.
Apart from Amazon, there have been quite a few US tech giants who withdrew from the Chinese market. These include companies such as Airbnb, Yahoo and Microsoft's LinkedIn, who have significantly brought down their presence in China.