The company is also reported to be working on a smartphone to complement its existing lineup of Kindle e-readers and Kindle Fire tablets. The company’s strategy, as outline by CEO Jeff Bezos, is to sell hardware at or near cost and make money instead from the content and services purchased by users of those devices.
The company said China is home to some of its most innovative, efficient and profitable stores. “Starbucks’ newest class of stores in China are delivering the highest average unit volumes, return on investment and profitability of any of the market’s prior store classes in its history,” according to the company.
The competition has been held every year since 2015, Wu said, with 15.77 million students taking part in it.
The company's ranking rose from the 11th place in 2016 to 8th spot this year, with its brand value increasing 27 percent to 8.3 billion, according to the 2017 BrandZ Top 100 Most Valuable Global Brands ranking.
The company released a report on Friday saying that Huazhong Agricultural University in Wuhan, Hubei province; Zhejiang University and Hangzhou Normal University in Hangzhou, Zhejiang province; Sichuan University in Chengdu, Sichuan province; and Jiangnan University in Wuxi, Jiangsu province, topped the list of universities where students were making use of express delivery to smart lockers.
The company's Chinese business generated more than million in 2017 from .5 million in 2015. It expects to see even faster revenue growth in China in the next five years.
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The company said that at the same time, its food business has been providing support for he sustainable development of China's agricultural sector.
The company was brought to court by the Guangdong provincial consumer watchdog last December over accounting irregularities and delays in refunding users’ deposits, after the latter received 2,952 complaints about deposit refunds.
The company is also striving to coordinate with multiple sides to maintain the supply of industrial production materials, and logistics services, so as to ensure the sustainability of businesses, YMTC said in a statement.
The company plans to reopen its flagship store in London, which closed last February due to lukewarm sales. Bosideng said the reopening of the store is an important move for its brand strategy, as it looks to further expand into overseas markets.