Amazon India is said to be considering price cuts to attract customers, as it looks to raise its market share and close the gap with e-commerce giant Flipkart and other domestic rivals, Mint reported.

The company is planning to raise its spending for the next few quarters to improve its market share in India, sources told Mint on Thursday.

It is primarily looking at reducing prices of smartphones, the sources said.

“We continue to seek out opportunities to make smartphones more affordable for our customers. Our exchange and EMI schemes have gained momentum with customers. We are working closely with brands to enable them to reach out to customers across India,” Noor Patel, director of smartphones category management at Amazon was quoted by Mint.

Amazon has also stepped up its efforts to acquire a significant stake in Flipkart which is said to be in advanced talks with Walmart for stake sale. A FactorDaily report had said that Amazon may offer a breakup fee of up to $2 billion for deal talks with the Indian e-commerce company.

First Published:Apr 12, 2018 11:36 AM IST