Apple may finally open an online store for its Indian customers. The Southeast Asian country remains to be a great a potential market for the premium mobile-maker but the government’s restrictions and the political resistance has thus far been a hindrance to it selling its phones directly.
India’s regulations have for years been a problem for foreign companies as it required businesses like Apple to source 30% of components locally. The government relaxed the rule last year which gave Apple a window to enter the market. But certain things prevented this from happening. Now, the company is said to be close to opening its online store for Indian customers soon.
According to Bloomberg, the online store will be open for business to the Indian customers before the festival of Dushera or Diwali. Further, the company may also be planning to open its outlets in Bangalore and Mumbai later this year or next. Its first physical store will open in Mumbai.
It is a big move by the Cupertino-company as the 1.3 billion people strong country remains to be one of the underserved markets for Apple. The company currently offers its iPhones in India through its franchise partners and online platforms like Amazon and Flipkart.
Walmart invites Indian sellers to join its American marketplace, targets $10B in annual exports
Reliance, Mahindra, Ola Electric among bidders for the Indian Govt’s $2.4 billion PLI battery scheme
Netflix cuts prices for its subscription plans in the Indian market
Indian cosmetics brand Nykaa plans to open 300 stores across the country
The Philippines to open up to fully vaccinated international tourists soon
© 2022 CIO Bulletin. All rights reserved.