Apple Inc.’s chief executive Tim Cook has reaffirmed the iPhone-maker’s plans to open its own retail stores in India, which he described as one of its fastest-growing markets.
According to Sanchit Vir Gogia, Chief Analyst and CEO of Greyhound Research, India is the world’s third biggest consumer market after the US and China.
“Apple is eyeing India as the US has become saturated in terms of installed base and China’s economy is slowing down, coupled with the fact that local players like Xiaomi offer discounts and are tying up with local telcos. India, then, becomes a critical market for Apple to set up retail stores where they can increase their installed base by selling more devices and offering services and apps.”
Gogia puts Apple’s strategy in perspective: “Apple in India has a three-pronged strategy: first, increase brand recall and enhance customer experience by opening Apple retail stores that offer the same look-and-feel of global stores; two, increase the installed base of their devices by offering special pricing and discounts in India; and finally, increase online services (content and apps) that they offer.”
Source: Live Mint