The Indian smartphone market is the second-largest in the world, behind only China. This market is one of the most lucrative smartphone markets globally. The Indian smartphone market is basically a mid-range / entry-level market thus the likes of Apple do not have a part of the market. Even Samsung had to release some budget smartphones in India to keep its fan-base. According to Counterpoint data, in the first half of 2019, the top three mobile phone brands in India were Xiaomi, Samsung, and Vivo. Now that Apple is introducing cheaper iPhones with the iPhone 11 costing just $699, the company is set to place a stronger foot in India.
According to recent media reports, Apple has chosen to open its first Apple retail store in India. The store will be at Maker Maxity Shopping Mall in Mumbai. The three-floor Apple store covers an area of about 20,000 to 25,000 square feet. An Apple team in Mumbai is responsible for designing and creating the layout of Apple retail stores.
The renovation work is going on and the company is importing the necessary facilities. The new store will probably open in September next year. The iPhone 11 is very popular in India, and Indian users are queuing to buy the phone. The Indian market is also gradually improving its position with the American manufacturing giant.
According to local media reports in India, Apple will invest $1 billion in India. This is because the company plans to start exporting “Made in India” iPhones worldwide.
At the same time, Indian IT and electronics minister, Ravi Shankar Prasad, said that the Indian government hopes that the iPhone manufacturer will expand its manufacturing base in India. It hopes that the company will use India as an export focus.