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Amazon, Flipkart breached antitrust laws
An Indian antitrust investigation has found U.S. e-commerce giant Amazon and Walmart’s Flipkart violated local competition laws by giving preference to select sellers on their shopping websites, according to reports seen by Reuters. The Competition Commission of India (CCI) in 2020 ordered an investigation into Amazon and Flipkart for allegedly promoting certain sellers with which they had business arrangements and giving priority to certain listings.
In a 1027-page report on Amazon and a separate 1,696-page report on Flipkart, both dated Aug. 9, the CCI investigators said the two companies were found to have created an ecosystem where preferred sellers appeared higher in search results, elbowing out other sellers. The investigation’s findings are the latest setback for Amazon and Flipkart in a country where they continue to face criticism for their business practices from smaller retailers, who say their businesses have suffered in recent years due to deep discounts offered online.
Microsoft to cut 650 jobs
Microsoft said it is cutting 650 jobs in its Xbox unit, the third such layoff this year as the company tries to rein in costs and integrate its $69 billion acquisition of Activision Blizzard, Bloomberg News reported. The gaming industry saw mass layoffs, studio shutdowns and project cancellations in the first half of the year, triggered by a slow recovery in spending by gamers after player engagement rates peaked during the pandemic.
The job cuts will affect mostly corporate and supporting functions, the report said, citing a memo sent to staff by Xbox chief Phil Spencer. No games, devices or experiences are being cancelled and no studios are being closed as part of these adjustments, the report said, citing the memo. It had said in January it would let go of 1,900 employees at Activision Blizzard and Xbox. In May, Xbox shut down a number of gaming studios, including Arkane Austin.
Corning developing new glass technologies
Corning on Thursday shared about company’s diversified businesses in India and its presence here since last 60 years. The U.S. based company produces a range of products from mobile protection (Gorilla Glass) to optical fiber, life science and data center products. The Hindu spoke with Sudhir Pillai, Managing Director, Corning India, where he said that Corning is developing new glass technologies for folding phones and smartwatches but these aren’t locally produced yet.
Corning sells protective front and back covers for smartphones by the name of Gorilla Glass which started off in 2007. Sudhir said that most of the OEMs source protective covers from Corning without naming any particular brand or mass buyer as such. Last year, it announced a JV with Optiemus to make protective front glass for smartphones in a greenfield factory coming up in Tamil Nadu, which will start producing from the second half of 2025.
Published – September 13, 2024 02:50 pm IST
