With the Centre easing FDI norms in single-brand retail, premium smartphone maker Apple is likely to start direct sales of Apple products through its online store in India, before setting up a physical shop in the country. The webstore is likely to come up over the next 3-5 months as it involves duplicating its global online store template for the Indian market, Economic Times quoted Apple executives as saying.
In addition, Apple is also mulling setting up its first brick-and-mortar shop in Mumbai. The store is expected to open next year, Bloomberg reported.
Welcoming the government's move, Apple on Thursday said it was keen on offering online and in-store experiences to its Indian users at par with its global standards and aimed to open its maiden retail store in India. However, the tech giant did not specify the timeline for its plans.
The government on Wednesday eased the FDI norms for single-brand retail, offering more flexibility on local sourcing norms. It also did away a provision that required companies to mandatorily set up a brick-and-mortar store before getting into online retail trading.
Apple competes with companies such as OnePlus and Samsung in the premium smartphone category in India. "We love our customers in India and we're eager to serve them online and in-store with the same experience and care that Apple customers around the world enjoy... It will take us some time to get our plans underway and we'll have more to announce at a future date," the statement added.
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Currently, Apple and some other firms sell in the Indian market through franchise-owned retail stores, apart from the e-commerce channels like Flipkart and Amazon. Apple is reportedly looking at Mumbai to set up its first offline retail store in India. Apple stores are thronged by tech enthusiasts for the experience they offer and the knowledge of its staff.
Recently, Apple had said the Indian market "bounced back" in the June quarter as the company logged strong double-digit growth in the country. Apple, which announced its third-quarter numbers in July, clocked 1 per cent year-on-year growth in revenue at $53.8 billion for the quarter ended June. International sales accounted for 59 per cent of the quarter's topline. The company, however, does not give out country-specific numbers.
Some models of iPhones are made in India by Apple's contract manufacturing partner Wistron Corp.
(With PTI inputs)
