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Online retailer reports $7m loss in Q2

Amazon plans to expand into a broader tech company

Amazon has revealed that it wants to broaden its range of digital services in a bid to diversify away from simply warehousing and selling products.

After reporting a loss of $7 million (£4.56 million) in the second quarter of 2013, the online retailer revealed that it wants to sell video streaming and digital downloads alongside its Kindle range and cloud computing services.

In the same period last year, Amazon actually made a profit $7 million.

For the coming quarter, Amazon forecasted sales of between $15.45bn and $17.15bn – below analysts’ expectations.

Amazon recently revealed that it has scrapped free delivery for orders under £10 on certain products, a sign that the firm isn’t in the best of positions.

One new digital service that the retailer has launched recently is AutoRip in the UK, which offers customers free MP3 versions of any CDs and Vinyl purchased form Amazon.co.uk since 1999.

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