(Image source from: businessworld.in)
Tim Cook who is the Chief Executive Officer of Apple has said to the share holders that the brand is set to open its first branded retail store in India. He has mentioned that the retail store would be opened in the next year 2021.
As reported by the Apple insider, the Chief Executive Officer has spoke to the investors on Wednesday at the annual shareholder meeting at the Apple Park in Cupertino in California where in he has mentioned and had confirmed that the first offline retail outlet in India the next year.
The company Apple is currently having a third- party re- seller outlets in order to sell the devices of the Apple company outside the country. Reports say that a location in Mumbai has been leased by Apple regarding its upcoming branded retail store but it has not been confirmed and the location is yet to be revealed by the Apple company.
The exclusive online store of Apple is expected to start functioning in this year and in the third quarter. The company Apple which is a Cupertino- based tech giant is presently selling its devices in the country India through the third party offline retailer and also via online shopping sites and e- commerce platforms like Amazon.in and Flipkart.
The government has decided to ease the local sourcing norm up to 30 per cent on the single- brand retail (SBRT) which was accepted by the tech giant Apple as it had said during the last year where in it has been mentioned that the hard work made by Prime Minister of India Narendra Modi and his team would be supported and appreciated through which it being possible and that the company is looking forward to welcome the customers to the first retail store of Apple that would be set up in India.
Navkendar Singh who is the research director of IDC India, Apple is known for its retail stores and also for the experiences that the company provides in terms of purchase, staff knowledge and other various services that are provided by the tech giant Apple.
The company Apple has reached a record 75.6 percent share in the market in the fourth quarter of the previous year 2019 in the country India owing to performance of the iPhone 11 and also the drop in the price on the models of the previous generations.
Taking into consideration of the International Data Corporation (IDC), the tech giant Apple has reached a record 75.6 per cent share in the market in the segment of premium which is $500 or Rs 36,000.
The Chief Executive Officer of Apple, Tim Cook has announced in the month of January that a double- digit growth has been registered by Apple in India regarding the iPhones in the holiday quarter which the period from the month of October to December.
The iPad 2018 model of Apple has also helped the company to register a strong growth in India in the last year 2019.
The industry experts say that the first- ever flagship retail store of Apple would act like a booster in the smartphone market of the price sensitive devices in the year 2020.
By Shrithika Kushangi
