Apple revealed a first look at its first retail store in India which will be located in the city of Mumbai, and sourced claimed it will be open in April, reported Reuters.
India is a growing market for Apple as India sees a growing middle class. The company began directly selling its hardware there in 2020 when it opened its online retail store. India is the second-largest smartphone market in the world.
According to IDC, India shipped 144 million units at the end of 2022 a 10% decline. Apple was the leading vendor in the premium segment (above US$500) with a market share of 60%, and rival Samsung holds 21%.
Reuters reported the US technology giant only holds a 3% market share overall in India, with many Indian priced out from the premium end of the smartphone market.
Apple saw its plans to open the store delayed in 2021 due to the global health crisis and subsequent lockdowns.
India is also a manufacturing hub for Apple with iPhones being constructed by partners Foxconn and Wistron Corp. Apple has reportedly begun pivoting away from manufacturing in China to India.
The store is designed in black and yellow artwork inspired by Mumbai’s taxis.
