8/1/2023 0 Comments Apple store open on mlk day![]() Prachir Singh, a Counterpoint Research senior analyst, also said the locations of the new stores were critical, with Delhi and Mumbai each making up the top two Indian markets for Apple, respectively. The premium category for smartphones, where Apple sits, “is still driven by brick-and-mortar stores where consumers can touch feel the device,” he told CNN. Sanyam Chaurasia, a Canalys mobility analyst, said the stores would allow Apple to bring all its products “under one roof” and guide more consumers toward purchases. India holds promise for businesses because of its vast population, rising middle class and growth potential from consumers who are expected to make the switch from basic cell phones to smartphones, according to Counterpoint Research Associate Director Hanish Bhatia.Īpple is set to open its first retail store in Mumbai as it bets big on IndiaĪpple had previously planned to open its first physical store in the country in 2021, though that was derailed by the Covid-19 pandemic. For comparison, an iPhone 14 starts at 79,900 rupees ($973.6), while an iPhone SE, a lower-cost model, starts at 49,900 rupees ($608.2).Īpple’s position is expected to grow, however, as it continues to build out its retail presence there and more customers turn to high-end smartphones. In India, the average salary for regular full-time workers is 18,585 rupees ($226.5) per month, according to the most recent government statistics. Apple products are considered too expensive by many consumers in the country. It is dwarfed by the country’s top five vendors, which are led by Samsung and Chinese smartphone makers Xiaomi and Vivo. (SSNLF), but its 6% share of the Indian market remains small. The company bills the store as one of its “most energy-efficient” in the world, saying solar panels allow it to run solely on renewable power.Īpple did not respond to a request for further comment, or details of Cook’s visit.Īpple is the world’s second biggest smartphone maker, behind Samsung (AAPL) shared a peek of its new Mumbai store, located at a property owned by Reliance Industries, the conglomerate of Indian tycoon Mukesh Ambani.
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