Apple had recently announced that its planning to sell iPhones in India via its online store in 2020. Apple also plans to establish its physical retail stores in India by 2021. This was announced by Apple CEO Tim Cook, who had revealed the details at Apple’s shareholder meeting in California.
Apple’s Revenue Better Than Expected; Shares Rise
Till now Apple has been selling its products in India, through third-party sellers and online marketplaces like Amazon and Flipkart. This scenario would be changing once Apple opens its store in India.
There are quite a lot of speculations about Apple’s first retail store, which is likely to be situated in Mumbai. Tim Cook once told TechCrunch that he is a huge believer in the opportunity in India. He said that India is a country with vibrancy and demographics that are unparalleled.
Recently, India had overtaken the US to become the largest smartphone market in the world. As per a Counterpoint Research, an estimated 158 million devices were being shipped to India in 2019. However, China continues to retain the top position. They also said that Apple has experienced a growth in India, due to price drops in iPhone XR and iPhone 11 series.
Also, Apple has been dominating the premium segment in the Indian Smartphone market in Q4 2019. This was because it attained a record 75.6 percent market share in Q4 2019 in the premium segment. However, Apple might not be able to meet its revenue goals in the second quarter due to the Coronavirus epidemic in China.