The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
Apple’s iTunes stores also will debut in 15 other countries.
Apple Inc. is exporting its iTunes music and digital content to South America.
Apple, No. 3 in the Internet Retailer Top 500 Guide, has launched an iTunes store for Brazil and 15 other countries in Latin America, including Argentina, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Nicaragua, Panama, Paraguay, Peru and Venezuela.
The iTunes store for Brazil will debut with a catalog of more than 20 million song titles and include music from popular Brazilian artists such as Ivete Sangalo, Marisa Monte and Roberto Carlos. Digital music shoppers in Latin America also will be able to purchase and download songs from major music labels EMI Music, Sony Music Entertainment, Universal Music Group, Warner Music and various independent labels. Movies and television shows also will be available from 20th Century Fox, Paramount Pictures, Sony Pictures Home Entertainment, Universal Pictures, The Walt Disney Studios and Warner Bros. Pictures.
Apple already offers web shoppers and developers in the region access to the Apple App store, and the ability to shop for computers, iPhones, iPads and related gear on Apple.com, the company says.
Apple is one of a growing number of companies looking to grow online in Brazil and elsewhere in Latin America. E-commerce sales in Brazil will reach $22 billion in 2016, up 178% from $7.9 billion in 2010, says research firm Forrester Inc.