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Amazon (AMZN) Boosts Robotics Efforts in India With New Facility
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Amazon (AMZN - Free Report) gears up to open a consumer robotics software development center in Karnataka to introduce robotics advancements in India.
The new facility will be based in Bengaluru, which will support the expansion and growth of the company’s Consumer Robotics division. Moreover, it will directly assist in product development through the underlined division.
The facility will aid Amazon in bringing Astro to India, which was developed and unveiled by its Consumer Robotics unit last year.
Notably, Astro, which is the first domestic robot, is embedded with cameras, a microphone, motion sensors and a rotating screen with digital eyes on it. It is equipped with Alexa, which makes it ‘Alexa on wheels.’
The robot is designed for various purposes like home monitoring, setting up routines and reminders, controlling smart home devices, handling video calls and finding the concerned person when someone calls.
Amazon will be able to leverage the innovative talent hub of India for its robotics initiatives through its latest move.
The latest launch is in sync with Amazon’s deepening focus on strengthening its infrastructure in India, which holds bright prospects for e-commerce and cloud businesses.
Apart from the latest establishment, the company recently inaugurated its fourth office in Tamil Nadu. The new office is at the World Trade Center in the Perungudi area of Chennai. It spans 8.3 lakh square feet, occupying 18 floors of the building. The office holds a capacity of supporting 6,000 employees.
The company continues to invest heavily in its fulfillment network. Amazon owns more than 60 fulfillment centers in the country at present. Its overall storage capacity spans more than 43 million cubic feet.
Notably, Amazon remains well-poised to penetrate the booming India e-commerce market with its continued investment in fulfillment centers, which are giant warehouses that help online retailers store and ship products, and handle returns quickly.
The company’s rising number of Digital Kendras, the brick-and-mortar resource centers with the help of which it strives to encourage MSMEs to adopt advanced technologies to go online, remains noteworthy.
To Conclude
The above-mentioned endeavors are expected to strengthen Amazon’s presence in India, where digitization has reached a much-advanced level.
However, Amazon is currently witnessing mounting expenses associated with its infrastructure expansion initiatives, which might hurt its profitability in the near term.
Also, it is bearing the brunt of inflationary pressure, elevated staffing costs and supply-chain disruptions. Moreover, uncertainties related to the coronavirus pandemic and ongoing tensions between Russia and Ukraine remain overhangs.
Zacks Rank & Stocks to Consider
Currently, Amazon carries a Zacks Rank #5 (Strong Sell).
Image: Bigstock
Amazon (AMZN) Boosts Robotics Efforts in India With New Facility
Amazon (AMZN - Free Report) gears up to open a consumer robotics software development center in Karnataka to introduce robotics advancements in India.
The new facility will be based in Bengaluru, which will support the expansion and growth of the company’s Consumer Robotics division. Moreover, it will directly assist in product development through the underlined division.
The facility will aid Amazon in bringing Astro to India, which was developed and unveiled by its Consumer Robotics unit last year.
Notably, Astro, which is the first domestic robot, is embedded with cameras, a microphone, motion sensors and a rotating screen with digital eyes on it. It is equipped with Alexa, which makes it ‘Alexa on wheels.’
The robot is designed for various purposes like home monitoring, setting up routines and reminders, controlling smart home devices, handling video calls and finding the concerned person when someone calls.
Amazon will be able to leverage the innovative talent hub of India for its robotics initiatives through its latest move.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Amazon’s Expansion Spree
The latest launch is in sync with Amazon’s deepening focus on strengthening its infrastructure in India, which holds bright prospects for e-commerce and cloud businesses.
Apart from the latest establishment, the company recently inaugurated its fourth office in Tamil Nadu. The new office is at the World Trade Center in the Perungudi area of Chennai. It spans 8.3 lakh square feet, occupying 18 floors of the building. The office holds a capacity of supporting 6,000 employees.
The company continues to invest heavily in its fulfillment network. Amazon owns more than 60 fulfillment centers in the country at present. Its overall storage capacity spans more than 43 million cubic feet.
Notably, Amazon remains well-poised to penetrate the booming India e-commerce market with its continued investment in fulfillment centers, which are giant warehouses that help online retailers store and ship products, and handle returns quickly.
The company’s rising number of Digital Kendras, the brick-and-mortar resource centers with the help of which it strives to encourage MSMEs to adopt advanced technologies to go online, remains noteworthy.
To Conclude
The above-mentioned endeavors are expected to strengthen Amazon’s presence in India, where digitization has reached a much-advanced level.
However, Amazon is currently witnessing mounting expenses associated with its infrastructure expansion initiatives, which might hurt its profitability in the near term.
Also, it is bearing the brunt of inflationary pressure, elevated staffing costs and supply-chain disruptions. Moreover, uncertainties related to the coronavirus pandemic and ongoing tensions between Russia and Ukraine remain overhangs.
Zacks Rank & Stocks to Consider
Currently, Amazon carries a Zacks Rank #5 (Strong Sell).
Some better-ranked stocks in the retail-wholesale sector are AutoNation (AN - Free Report) , The Kroger (KR - Free Report) and Solo Brands (DTC - Free Report) . All three companies currently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AutoNation has returned 15% over a year. The long-term earnings growth rate for the AN stock is currently projected at 24.74%.
Kroger has gained 43.7% over a year. The long-term earnings growth rate for the KR stock is currently projected at 9.88%.
Solo Brands has lost 74.1% over a year. The long-term earnings growth rate for the DTC stock is currently projected at 16.74%.