Apple Stock News: Apple Expands in India

Apple has agreed to a retail expansion in India that will see 500 new reseller storefronts set up in underserved regions of the country. Apple has been in India since 2011, but has not been a mainline brand there like they are in many other countries, such as China. Their Korean rival Samsung currently dominates the market, but Apple’s plans for a major push in India could change this quickly.

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India is seen as strategic and one of the most promising markets globally, as it is the fastest growing smartphone market in the world currently. Over a year’s time ending in September 2014, Apple has sold one-million iPhones in India. This number is expected to more than triple over the next year and top three-million.

Apple will work with partners Redington and Ingram Micro, local distributors with whom Apple already works, to set up 500 franchise stores that will be in smaller towns, making Apple more local. Apple already has stores in some of the larger cities, but believe that opening display franchises in smaller towns can help expand sales.

This move comes after Apple shipped one-million phones to India for the first time. Apple believes that there is extremely high purchasing power in smaller towns that they have yet to establish a presence in. Besides the increased amount of retail stores where customers can get a proper product demonstration, Apple plans to increase spending for direct advertising in India..

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