- Apple’s annual meeting gives information about expansion in India
- Apple’s online store will start in India this year
America’s tech company Apple Inc., which is moving towards increasing business in India, has set a deadline to open its retail store here. CEO Tim Cook has stated that Apple’s first store in India will open in 2021. At the annual meeting of Apple’s shareholders in California, Cook informed of the company’s expansion into India. In response to a question, Cook said that Apple’s online store will start in India this year i.e. 2020. At the same time, Apple’s first branded retail store in India will open in the next year i.e. 2021.
CEO Tim Cook stated that Apple’s first store in India will open in 2021
Cook said that we are awaiting government approval to open stores in India and we will do this without the involvement of any domestic partner. He said that we do not want anyone else in India to run an Apple store.
The first store can open in Mumbai
Last year, Apple informed about its expansion plans in India. Then the company had said that it would invest one thousand crore rupees in India in the next 2 to 3 years. Media reports then said that Apple could open its first retail store in Mumbai. It will then consider opening a store in Delhi.
30 percent iPhone sales from the e-commerce site
About 30 percent of iPhone sales in India are from e-commerce stores such as Flipkart and Amazon. In India, 1.9 million units of iPhone have been shipped in the year 2019. Apple has been the fastest growing brand in the October-December quarter. In the year 2018, 1.8 million units were shipped.
India is a big market for foreign companies including Apple
India is a big market for foreign companies including US giant Apple. According to a report by research firm Counterpoint, India is a big market to sustain growth but most people in the country are not able to buy Apple products. The report states that most of the smartphones sold in India are priced at $ 150 or less.