Apple has reportedly selected the location for its first Apple Store in India. The store will be located in Maker Maxity mall in Mumbai, India’s most populous city with a population of around 18 million.
Cupertino is aiming for a September 2020 opening for the Mumbai Apple Store. That’s around the time Apple should release the next-gen iPhone.
Apple’s current share of the smartphone market in India is just 1%. But if Apple could somehow raise that to 4% it would bring in approximately $4.6 billion in extra revenue — alongside earnings upside of 65 cents per share.
That’s according to Evercore IMI analyst Amit Daryanani. And Daryanani thinks Apple may be able to do it, too.
Apple is getting excited at the prospect of opening its long-awaited first retail store in India.
“We appreciate the support and hard work by Prime Minister Modi and his team to make this possible and we look forward to one day welcoming customers to India’s first Apple retail store,” Apple said in a statement Thursday.
Apple may have finally succeeded in its long, long quest to be allowed to sell its products directly in India. Until now, the company has been forced to go through third-party resellers, but the Indian government today changed the rule that was hobbling Apple.
Being able to deal directly with the public might increase Apple’s poor sales of iPhones in this huge market.
Apple has a slender percentage of Indian handset sales, but there’s cause for optimism. We spoke with Anshika Jain, an analyst at Counterpoint Research, to see whether the changes Apple has been making to its business practices in India started to bear fruit during the second quarter of this year, and what they might mean for the future.
A Netflix subscription that costs less than $3 a month sounds like a dream come true, but there are some caveats. Video can only be streamed to a single iPhone, iPad or other mobile device, and that device has to be in India.
This super-low tier was created to appeal to the huge potential market in that country.