Shulou(Shulou.com)11/24 Report--

CTOnews.com April 21, the first Apple retail store in India officially opened in the BKC store in Mumbai, followed by the opening of a second Apple store in Delhi yesterday (April 20, 2023). It is reported that Apple's sales in India reached nearly $6 billion in the past year by the end of March (CTOnews.com Note: currently about 41.28 billion yuan), up nearly 50 per cent from $4.1 billion in the same period last year (currently about 28.208 billion yuan). This highlights the importance of the Indian market to Apple.

TechInsights brings the relevant research report, what does it mean for Apple to open an offline retail store in India for the first time?

India's importance to sales: India is one of the developing and emerging markets, with a population of more than 1.3 billion, but more than half of India's population still does not have smartphones. Therefore, because of its low permeability, it has an advantage over other developed countries with saturated markets. According to government statistics, with the exception of 2020, India's disposable income is increasing year by year, which makes India a very important market for all suppliers in the coming years, and Apple is no exception. It is believed that users without mobile phones will switch to entry-level smartphones or feature phones, while most feature phone users will switch to entry-level smartphones. Similarly, as disposable income increases, the "entry" shifts to the "middle", the "middle" to the "high end", and so on. Given the current momentum of Apple's continued growth in India, Apple will have plenty of room to cope with declining sales. TechInsights points out that Apple's market share and shipments in India have continued to grow, from 1 per cent in 2018 to 4 per cent at the end of 2022. Apple will build on this growth momentum, and its retail stores will bring more awareness to the brand.

Apple iPhone shipments and market share in India (2012-2022) the importance of India to manufacturing: in recent years, the pace of development of smartphone manufacturing in India has accelerated, and some of Apple's manufacturing operations have moved to India. In the future, India will be a very important market for Apple's iPhone manufacturing and will become one of the major exporters of the new iPhone.

The importance of channels: we have seen the vigorous development of India's online sub-channels since 2020. Apple has made people realize that retail has its own importance, no matter how prosperous it is online, and will continue to do so, perhaps not in terms of retail sales figures, but in terms of consumer experience.

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