Apple’s India store is actually really maybe coming soon
Apple’s elusive India store is back in the news.
On May 08, Bloomberg reported that the iPhone-maker has shortlisted a few locations for its first retail store in India.
The news comes after CEO Tim Cook, in an April 30 earnings call, said, “We would like to place retail stores there (in India). And we’re working with the government to seek approval to do that. And so, we plan on going in there with sort of all of our might.”
According to Bloomberg, the first Indian store will likely open at an upscale site in the commercial hub of Mumbai. That’s on the same lines as Apple’s strategy for stores in other countries. The company boasts of prime real estates, such as Fifth Avenue in New York, Regent Street in London or the Champs-Elysees in Paris.
“Apple runs an extensive global network of retail stores and its ability to sell a huge number of iPhones per square-meter of retail space is very impressive,” Neil Mawston, executive director at UK-based Strategy Analytics, told Quartz. “If Apple can build large stores in premium shopping districts, the company will sell a lot more iPhones in India next year.”
With retail stores in big cities such as Mumbai, Apple holds the potential to capture over 2% of the world’s second-largest smartphone market by 2020, Mawston estimates. Currently, iPhones account for around 1% of smartphones sold in India.