Apple Inc the iPhone maker company decided to start their stores in India. India has shown great potential in previous years in the smartphone industry, so the launch of apple store could be a great breakthrough. Apple applied for setting up its own store in India, but due to some restriction rules could be accepted.
In India it sells its smart-phones and iPad, and Macs through third party sellers. Now, the most part the smart phone market is dominated by other local brands in India. Local smart phone makers have bigger market share in India due to their low price.
Apple confirmed that this kind of application was declined by the trade ministry of India. The slow growth in the United State and China market concerned them to shift focus on India’s market. Currently Apple has 450 stores in 18 countries. According to Luca Maestri Apple has 25 stores in China and is opening a new store almost every month.
The Indian government eased foreign investment norms in major sectors including relaxing the mandatory local sourcing rule. Apple has intensified its campaign of investing after The Prime Minister of India Narendra Modi met Apple’s CEO Tim Cook during his visit to The US.
The Indian smart phone market is dominated by Samsung Electronics and Micromax. The Indian smart phone marketing is likely to become the largest market in coming years.