Flipkart

Indian online retailer Flipkart launched its own smartphone, called Capture+, which it said is “designed and engineered in India”. The device comes from Flipkart’s Billion unit, established to “bring high-quality, Made for India products to Indians”.

India’s third largest e-commerce company Snapdeal ended merger talks with the country’s largest online marketplace Flipkart after opting to remain independent, Reuters reported.

Indian e-commerce giant Snapdeal’s board reportedly agreed to a takeover by larger rival Flipkart, in a deal worth up to $950 million.

India’s top online marketplace Flipkart reportedly boosted its takeover offer for rival Snapdeal by as much as $200 million to between $900 million and $950 million.

India’s third largest e-commerce company Snapdeal turned down an initial takeover offer of $700 million to $750 million from rival Flipkart, Live Mint reported.

Smartphones were tipped as a key driver for online retailers Flipkart and Amazon in India during 2017 – provided the companies can overcome consumers’ preference for bricks and mortar stores.

Snapdeal’s founders and early investor Nexus reached a deal with SoftBank to sell the Indian e-commerce company to the country’s top online marketplace Flipkart, ET Now reported.