Following acquisition by Flipkart.com in February, online retailer letsbuy.com has shut down its operations in India. Users landing on the home page are being shown a message stating that letsbuy has merged its operations with flipkart – the largest player in the category. All the links in the header now point to corresponding categories on flipkart. Here is the full message:
Dear Visitor,Yours sincerely,The Letsbuy team
There were multiple speculations as to what flipkart wants to do with letsbuy when it acquired it in February and one of them did point at such an outcome. Letsbuy was the biggest competitor for flipkart as far as electronics & gadgets sale was concerned. Eliminating a bigger competitor will enable flipkart to monopolize the category. However, what they probably fail to understand is that electronics and gadget online shoppers are probably the smartest of all and possess the ability to figure out when they are not being offered the best deal.
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