Apple (AAPL) Plans Massive Retail Expansion in Key Growth Market
Apple, Inc. (Nasdaq: AAPL) is planning to triple its presence in India over the next few years.
According to the Economic Times, citing dedicated franchisees, Apple plans to bring its retail store count in India up to 200 by 2015.
Plans call for growth of Apple Premium Reseller stores as well as multi-brand locations.
Reliance Retail, Apple's largest reseller in the market, plans to expand from 20 locations it currently operates.
Some speculate that plans may have been discussed when Apple's vice president of Sales for Europe, Middle-East, India, and Africa (EMEIA) Hugeues Asseman visited Mumbai last month.
Apple recently launched a huge ad campaign in India and is offering financing on an equated monthly installment (EMI) plan. EMI plans are available on the iPhone and recently expanded to the iPad tablet as well.
The ad blitz comes as Apple may also debut a lower-cost iPhone sometime in 2013, based on market speculation. The move would pressure rivals Samsung and Nokia (NYSE: NOK) in the market, both of which offer handsets starting at or below $100.
Shares of Apple are slightly higher in the after-hours session.
According to the Economic Times, citing dedicated franchisees, Apple plans to bring its retail store count in India up to 200 by 2015.
Plans call for growth of Apple Premium Reseller stores as well as multi-brand locations.
Reliance Retail, Apple's largest reseller in the market, plans to expand from 20 locations it currently operates.
Some speculate that plans may have been discussed when Apple's vice president of Sales for Europe, Middle-East, India, and Africa (EMEIA) Hugeues Asseman visited Mumbai last month.
Apple recently launched a huge ad campaign in India and is offering financing on an equated monthly installment (EMI) plan. EMI plans are available on the iPhone and recently expanded to the iPad tablet as well.
The ad blitz comes as Apple may also debut a lower-cost iPhone sometime in 2013, based on market speculation. The move would pressure rivals Samsung and Nokia (NYSE: NOK) in the market, both of which offer handsets starting at or below $100.
Shares of Apple are slightly higher in the after-hours session.