Chinese site backed by Wal-Mart eyes more cellphone sales

08/14/2013 | China Daily (Beijing) started as an online grocer when it launched five years ago in China, but the site has ramped up its consumer-electronics inventory in the past two years. Wal-Mart Stores owns a 51% stake in the site, which plans to dramatically increase mobile phones this year, Vice President Wei Huazhen says. "Selling mobile phones online has become a major focus for various e-commerce companies, because the products are small, easy to transport and have a relatively high profit rate," he said.

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China Daily (Beijing)

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