The most premium smartphones in India is planning to open its own stores in India. As of now, the company is selling its product to Indian users by franchise stores and now they are looking to open their own stores. According to a report published in Economics Times, Apple has filed the application in Department of Industrial Policy and Promotion. As of now, the DIPP hasn’t approved the application of Apple to open the stores.
The Secretory of DIPP Amitabh Kant said, “We have just received Apple’s proposal. We are examining it.” There is no information in the application that how much investment Apple is going to make to open its own stores in the country, but it is clear that Apple is planning to open its stores in all major metro cities. Apple hasn’t opened its stores till now because of the restrictions in FDI in single brand retail. But now these restrictions have been removed by November 2015 so Apple is considering opening its stores.
If Apple opens its stores it is clear that the company will try to sell its product online in the country. Apple is selling its products online in many countries, and they will do it same. These stores and outlets will ship the product to Indian customers. Previously, the Indian users have to wait for 3 to 4 months for the Apple product to purchase. Now, Apple has paid attention to Indian markets by opening lots of franchise in the country. The demand of the device forces Apple to launch their devices in the country close to the US launch date.
Also, Apple has made $1 Billion business in the country last year. They have done this with the help of only local franchise. Now they want to increase it more by opening their own stores. This is one of major reason they are seeking to open their stores in India.