EBay expects smartphones to dial up growth
EBay Inc. forecast robust growth in its mobile commerce segment as the online commerce and auction site expects more people to shop and pay via smartphones.
The company has been making a particularly strong push in mobile commerce and developing new applications for its e-commerce platforms, Reuters reported.
In 2012, eBay expects to do $8 billion in mobile commerce retail volume, and its electronic payments system, PayPal, expects to process $7 billion in mobile payments.
In 2011, eBay mobile commerce generated $5 billion in retail volume, and PayPal mobile generated $4 billion in payment volume.
In January, eBay gave a conservative quarterly sales forecast despite unveiling better-than-expected results, warning that a weak European economy may take the gloss off rip-roaring growth in online commerce.
The company also announced a new partnership with carrier Three.co.uk and strategic agreements with merchants including Yotel and Entradas.com.