Apple Set To Open Its First Official Store In India
Apple is set to open its first official store in India in Mumbai, aiming to enhance its market share in one of the world’s fastest-growing smartphone markets.
Later this month, Apple CEO Tim Cook is expected to visit India to commemorate the launch of the tech giant’s first company-owned facility in Mumbai and to meet with key ministers to discuss manufacturing growth and exports.
The Bombay store’s design, which was motivated by the city’s characteristic kaali-peeli taxi art, has been unveiled, however the opening day has not yet been chosen.
Industry insiders expected that the opening of a store at Delhi’s Select Citywalk mall could happen soon after the Mumbai opening.
As the company tries to enhance its market share in one of the world’s fastest-growing smartphone markets, the launch of Apple’s first official store in India in Mumbai is crucial for the company.
Up until this moment, the company’s brick-and-mortar retail presence consisted solely of resellers.
Customers will soon be welcomed to the store, which is located in Mumbai’s Bandra Kurla Complex (BKC).
The company claims that their “Apple BKC creative includes colorful renditions of the decals combined with many Apple products and services that will be available for our customers to discover” and is “inspired by the iconic Kaali Peeli taxi art unique to Mumbai.”
Along with a wide range of other products and services, the most recent iPhone 14 models, MacBooks, iPads, AirPods, Apple Watches, Apple TVs, and HomePods will all be offered. Customers will also have access to the well-known Apple trade-in programme.
The Apple Store has opened in India after years of regulatory difficulties and consultations with the Indian government.
Apple has to abide by local sourcing regulations, which demand that international companies buy at least 30% of their components from domestic suppliers.
Apple has to compete with other smartphone manufacturers in India, where they have a larger market share and lower prices.
According to reports, Apple had a 4% market share of Indian smartphones in 2022, which was less than Samsung, Xiaomi, Vivo, and Oppo.
On the other hand, Apple’s shipments climbed by 35% year over year, driven mostly by strong sales of the iPhone 12 and iPhone 13 models.
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Analysts predict that the opening of the Apple Store will enhance Apple’s brand and customer loyalty in India and bring more developers and artists into its ecosystem.