Online sales back on track after FDI shock

Web-focused smartphone and electronic brands said business on online marketplaces has returned to normal levels after New Delhi’s changes to overseas ownership rules disrupted sales early February at the two biggest industry platforms, Walmart-owned Flipkart and Amazon.

The rebound is pronounced enough for brands such as OnePlus, Realme, Vu, TCL, iFFalcon, BPL, Kodak and Thomson to suggest that online promotions — exchange offers, finance schemes and aggressive pricing — in the second half of February helped them boost business last month even though many of these brands had altogether disappeared from Amazon in the first week. Even on Flipkart, promotions were less in the first week of February.