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Newegg.com, a US-based online store for computers and electronics products, will set up its product development/IPO (international procurement office) headquarters in Taiwan, said Simon Hsieh, president of Newegg.com Taiwan branch.
Newegg.com was established in 2001 and had revenues of US$526 million in 2003, making it the sixth-largest online computer and electronics vendor in the US, ranking behind Dell, Best Buy, Circuit City, eMachines, and Buy.com, Hsieh said, quoting a US-based Hitwise report.
Newegg.com expects its revenues to hit US$1 billion this year and increase to US$2 billion in 2005, and the company plans to list its shares on the NASDAQ stock exchange next year, Hsieh said,
Newegg.com has warehouses in California, Tennessee and New Jersey and controls its own inventory, unlike other IT brand vendors and large-scale distributors, which store their inventory at their suppliers’ warehouses, Hsieh explained.
Newegg.com also aims to help Taiwan IT makers promote their own-brand products in the US, Hsieh said.
Hopefully this will lower prices at the Egg even more!
Submitted by: muddocktor
Source: DigiTimes
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