Sea lifts outlook as it fends off TikTok, Lazada

The value of goods sold by the Shopee division will rise in the “mid-20%” range this year, Sea said, rather than the “high teens” pace predicted in March. — Reuters

SINGAPORE: Sea Ltd raised the outlook for its main online retailing arm, signalling the South-East Asia eCommerce leader is effectively encountering intense competition from the likes of TikTok and Lazada.

The value of goods sold by the Shopee division will rise in the “mid-20%” range this year, Sea said yesterday, rather than the “high teens” pace predicted in March.