Apple Stock News
For the latest Apple Stock News, AAPL closed at $143.70 on Monday, April 3, 2017. It had a gain of 0.03% from its previous close of $143.66 per share. The stock inched its way to post a gain after the general market recovered from its initial decline.
India is the second most populated country in the world with over 1.25 billion people. Given such a population size, the market has a lot of potential for phone makers. According to emarketer, smartphone users in the country numbered 76 million, and is estimated to rise to 317 million. That is over 400% growth in 6 years.
Although Apple has been facing difficulty conducting business due to India’s restrictions to foreign companies. One such clause, is foreign companies looking to open retail stores in India, must source at least 30% of the products from Indian manufacturers. However, it seems India may give Apple an exemption due to the company regarded as “cutting-edge technology”.
Apple currently opened over 100 shops under the franchise mode as part of a pilot phase before plans for expansion. As India increases its purchasing power and the country’s middle class is growing, Apple’s potential in the country could be a rewarding strategy.
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