Apple Has Big Plans for the Indian Market, Plans to Open 500 Stores

[RaduTyrsina]

For the past few months, it seems that China was Apple's biggest focus in Asia, but now the company is ready to target a new highly lucrative market - India. With a booming mobile market, India has attracted in the past years the interest of many tech companies and now it seems that it's Apple's turn.

IndiaTimes reports that Apple plans to open 500 stores in the country in its first major push that will include moving into smaller towns and cities. Apple has been in India since 2011, but hasn't extended its operations, which has allowed rival companies, such as Samsung, to take a big chunk of the market.

A source close with Apple's plans said the following to the publication:

"All this will change now. The company is finalizing plans to become a serious player in India, which is being seen as a strategic and one of the most promising markets globally"

Here are some more details:

The sources said Apple has "tentatively approved" the expansion proposal and will give a final go-ahead very soon, defining all the parameters and phases of expansion. "These new stores will be smaller in size and could range from 300-600 sq ft against over 2,000 sq ft size of existing stores in bigger cities." A franchise model is likely to be adopted and could be spearheaded by Redington. Apple is also expected to increase spending for direct advertising in India, apart from publicity undertak .

Apple sold around one million phones in India in the year ending September 2014 and expects the volume to treble this year and top 3 million. However, what the report doesn't mention is when does Apple plan to open so many stores. It seems that the current distributors will also play a big role in Apple's plans.

"These new stores will be smaller in size and could range from 300-600 sq ft against over 2,000 sq ft size of existing stores in bigger cities."

Source: IndiaTimes