Stick to selling things rather than making them. That might be the message for Jeff Bezos and his team at Amazon after they decided to abandon their attempt to enter the increasingly contestable global smartphone market.
The Amazon Fire Phone has failed - spectacularly.
The WSJ reported recently that Amazon has taken a $170m loss on unsold inventory of the phone - and the project has now been abandoned.
Of course the setback of the Fire Phone won't stop Amazon investing in new product innovation. But it is a reminder that in some market segments - particularly smartphones - they face intense competition!
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