apple online store india launch
Is Amazon launching an online store in India?
In 2020, the company launched an online store in India, allowing customers to buy its products and also, for the first time, customize certain devices. CEO Tim Cook has previously pointed to the importance of starting its own retail network in the country, saying, “I don’t want somebody else to run the brand for us.”
Is Apple opening a new store in Mumbai?
The company released a photograph of its new boarded-up storefront, located at Jio World Drive Mall, a property owned by Reliance Industries, the conglomerate of Indian tycoon Mukesh Ambani. “Hello Mumbai,” the statement said. Apple is preparing to open its first physical store in India, in the commercial and financial hub of Mumbai.
Why did Apple open its first online store in India?
We’ll send you a myFT Daily Digest email rounding up the latest Apple Inc news every morning. Apple opened its first online store in India on Wednesday aiming to increase sales and manufacturing capacity in the country, as US companies work to diversify their supply chains outside of China.
Overview
It’s been 20 years since Apple entered India. Now the company is finally starting to sell directly to customers. Apple (AAPL) launched its online store in the country Wednesday, marking a critical milestone in its plans for one of the world’s biggest economies. The iPhone maker also wants to open its first physical store there next year. For years, Apple and other foreign retailers were restricted from setting up shop in India unless they sourced at least 30% of raw materials locally, forcing the California giant to rely on third-party resellers. That changed last year when the Indian government relaxed some investment rules. “It’s been a long road,” said Rushabh Doshi, a research manager for Canalys based in Bangalore. “Apple has been wanting to do this in the past, but regulation had not allowed it.” The company’s new e-commerce platform now lets shoppers customize their own Macs online — something Apple had not been able to offer directly in India before, according to Doshi — while giving them a more localized experience, such as the option to engrave their AirPods in seven Indian languages. More importantly, it helps Apple connect with customers and introduce more users to its ecosystem, according to experts. cnn.com
A complex market
Apple has big plans for India, but the iPhone maker still has a long way to go. It only captures a tiny sliver of the country’s smartphone market — less than a 2% share, estimated Doshi. That’s because many of the company’s products are seen as prohibitively expensive for most Indians. Chinese smartphone vendors, which are known for lower priced alternatives, account for 72% of India’s smartphone market, highlighting how price-sensitive consumers are, said Pathak. And although research from Canalys and Counterpoint shows that more people are starting to turn toward premium brands, the most expensive iPhones can still cost more than many Indians make in a year. Apple sets prices in different countries based in part on taxes and the local currency’s strength against the dollar. In 2018, it jacked up prices in India after the government raised tariffs on imported smartphones to 20%. To help lower costs, the company has ramped up manufacturing in India. In 2017, it began making iPhones locally for the first time, and recently, it also started domestic production of the iPhone 11. Analysts expect this to be just the tip of the iceberg for the company in India. They expect its shipments there to grow, particularly as it continues to open stores and expand its presence. cnn.com
Why has Apple launched its first store in India?
Apple Online Store in India
Apple Store Online Launched in India. Heres All You Need To Know
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