Flipkart sale: Get discounts on mobiles, other items; check cashback offers

Flipkart, the e-commerce giant, which is expected to be acquired by the US retail giant Walmart, has announced 'Big Shopping Days' sale to be launched on May 13, 2018.  The sale will go until May 16, 2018. The e-commerce giant will offer huge discounts on smartphones, electronic gadgets and accessories, TV and appliances, clothing, footwear, home appliances and furniture. Flipkart will also give 10 per cent discount on purchases done using HDFC Bank credit and debit card. 
 
The HDFC cashback offer will available on purchases above Rs 250 and if customers buy any article using ICICI Bank’s debit card a cashback of 10 percent will be offered to them. On mobile phones, Flipkart is offering huge discounts. The e-commerce site is also offering huge discounts on Samsung Galaxy, Google Pixel 2 and Google Pixel 2 XL. On electronic items, a customer can get up to Rs 37,000 discounts.
 
In another development, US retail giant Walmart has picked up 77 per cent stake in Flipkart for $16 billion. This is the boldest deal of the US retail giant in India and one of the biggest acquisition in the country. SoftBank, the largest investor in Flipkart,  confirmed the deal. The deal was made on Tuesday night (Japanese time).   $16 billion deal to buy a majority stake in Indian e-commerce giant Flipkart would hurt profits.
 
Walmart has confirmed that it will buy 77 percent  stake in Flipkart, while the remainder of the business will be held by its existing investors, including co-founder Binny Bansal, Tencent, Tiger Global and Microsoft. Walmart said this is the largest deal largest ever and could save between 25 cents and 30 cents per share from earnings this fiscal year. Flipkart earlier estimated earnings in the range of $4.75 and $5 per share.