U.S-based e-tailer Newegg, which is popularly known for its cheap prices and its wide selection of electronic goods, plans on finally entering the Indian market, in a move that could stiffen competition for domestic rivals Flipkart and Snapdeal.
According to discussions that were finalized at technology event Computex in Taiwan, Newegg plans on doubling the number of countries it currently serves by adding six new countries including India.
The company’s announcement comes on the heels of major consolidation in the Indian e-commerce market, with online retailer Flipkart buying rival Myntra, and with Prime Minister Narendra Modi widely expected to allow foreign direct investment (FDI) in e-commerce in the upcoming budget.
“Newegg maintains deep ties to Asia and, for years, we’ve been bringing Asia’s best products to our customers in the U.S. We’re now building on that success as we expand our reach into Europe and other parts of the world,” said Soren Mills, Chief Marketing officer of Newegg North America, in a statement.
While it is unclear how Newegg plans on entering the Indian market – through a marketplace or inventory-led model, The Hinduhas reached out to the company for more details.