Apple Store will be Apple Incs Next Big Initiative to Expand its Indian Market Presence
By: Ashwathy Nair
- The iPhone maker is now on the right trajectory for future expansion.
- It is banking on a multi-pronged approach in grabbing a larger market share.
- Upcoming physical stores will be the next big step.
Apple store, which is a network of branded physical outlets, will be the next big initiative of Apple Inc to expand the market presence of it in India. In 2020-end, the maker of the iPhone posted record sales, which is now on the right trajectory for future expansion. Global CEO Tim Cook said.
In order to expand its business in the world’s second-largest smartphone market, the company, which once relied on refurbished iPhones, is now betting on a multi-pronged strategy to capture a larger market share in India. In late 2019, since Apple has revamped its activities and market presence, reporting stronger sales. And in its largest success, the launch of its India Online Store in the festive season played an important role.
“There is a lot of markets that are referred to before and India is one of those where the shares are quite low. It strengthened from the year-ago portion, and over that span of time, the company approximately doubled, so it feels very good about the trajectory. There are a lot of things done in the region, for instance, there is an online store, and last quarter was the whole first quarter of the online store, and it got an amazing reaction to it as well as it helped in achieving the results that got to last quarter.” Cook stated this in a post-earnings call.
While, the sales numbers of Apple for the October to December quarter for the market, the company shipped in some 1.5 million iPhones during the period and that too twice as much as the same quarter previous year, as per the analyst firm Counterpoint Research estimates. Resulting in it, the shares of Apple in the smartphone market doubled over to four per cent in the quarter.
Apple dominated the premium segment with its renewed push, backed by price cuts for newer models such as iPhone 11 and iPhone XR and cheaper iPhone SE (2020) models (above- ₹35,000). As per IDC, Apple was the market leader during the December quarter in 49 of the top 50 Indian cities.
With the market sentiments in its favour, as per Cook, the upcoming physical stores of it will be the next big step. He stated that “In the future, we are also going in there with retail stores and so we look to it as another fantastic initiative, and we are also continuing to build the channel.” As per the sources, the first store is all set being ready at Mumbai as well as in Bengaluru and Delhi are going to be the next destinations.
Apple has a long journey in the future. While the market share of it has fully-fledged to over two per cent in 2020 and it is now featuring among the top seven smartphone brands, it is lagging well behind market leaders such as Xiaomi by 26 per cent and Samsung by 21 per cent.