AMAZON.com Inc renamed its Website in China to reinforce its brand in the largest Internet market behind the US.
The site will be called Joyo Amazon.cn from today, Seattle- based Amazon, which was the world's biggest web retailer, said in a statement issued in Beijing. Amazon.com bought Beijing-based Joyo.com Ltd for US$75 million in 2004, and has "tens of thousands'' of products online, including books, watches, makeup, baby clothes, kitchenware and electronics, Bloomberg reported.
Chief Executive Officer Jeff Bezos's focus on new products helped Amazon.com double first-quarter profit and raise earnings estimates for this year. Amazon.com last month said it bought Brilliance Audio, the largest US independent publisher of audio books, and will offer music downloads without software that restricts the devices on which users can play songs.
The company said it allows cash-on-delivery payment in more than 330 Chinese cities. Same-day delivery is available in Beijing, Shanghai and the southern city of Guangzhou, Amazon.com said in the statement.
Shares of Amazon.com rose 2.7 percent to US$70.42 in Nasdaq Stock Market composite trading yesterday and have more than doubled in the past year. The Nasdaq gained 21 percent in the period.