Walmart Divests $3.6 Billion Stake in JD.com, Exiting Chinese E-Commerce Partnership

Walmart sold its entire stake in JD.com for $3.6 billion, ending their eight-year partnership. This move comes as JD.com, along with other Chinese tech giants, faces a challenging economic environment in China. Walmart is shifting its focus to its own e-commerce and delivery systems within China for its Sam`s Club and hypermarket businesses. The sale allows Walmart to prioritize its own ventures and allocate resources elsewhere. While Sam`s Club has seen success in China, Walmart`s other hypermarkets are struggling amidst a downturn in Chinese consumer spending.