Asia's e-commerce to reach $51 billion by 2003

Morgan Stanley analyst sees Asia''s e-commerce market up 24-fold to $51 bn by 2003

The market for e-commerce in Asia, excluding Japan, could expand by 24 times to $51 billion by 2003. This is fromáthe $2 billion recorded last year, according to Sunil Gupta, Asia internet analyst at Morgan Stanley Dean Witter in Hong Kong.

Still, only a fraction of companies hoping to compete in the growing market will succeed, he said. Of the many existing Asian internet portals - content-providers such as Sina.com in China - only four or five will survive, he says.

E-commerce companies that do business mainly with consumers such as Korean online shopping mall Hansol CSN, could find it increasingly difficult to make money as competition intensifies. Those companies that...

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