Apple could be looking intensively at sales through online platforms in India, seemingly deriving benefits from the Indian government’s new rules concerning Foreign Direct Investment (FDI). Now, the Indian government recently announced new rules that relaxes the earlier limits for foreign brands like Apple to have at least 30% of production, requirements locally sourced. The government has also announced easing of FDI norms for sectors like single-brand retail. This means that companies can now sell through their exclusive stores and not depend on partner outlets.
As far as Apple is concerned, a Bloomberg report states that Apple could begin selling iPhones through its own eStores in India. At this point in time, it is worth remembering that the earlier FDI rule was viewed as an issue by consumer electronics brands to sell their products directly in Indi as most of the components were earlier manufactured in China and were merely sourced and assembled in India. Hence, it should not be an exaggeration to expect Appel offering its devices through its own online channels in the country. Here, Apple’s latest iPhones are assembled by Wistron Corporation in its facility in Bengaluru.
The Bloomberg report also adds that the first Apple-owned retail store in the country would be opened in Mumbai, soon. With online booming in India, it should naturally do a world of good for Apple to sell its products to directly reach consumers through the digital platform. Also, India is viewed as a potentially important market by almost all major smartphone makers; Apple’s market share in India are nothing to cheer about. Apple has also offered a statement wherein it stated to the Press Trust of India (PTI) that it was looking at offering online sales as well as enhanced physical store sales whilst looking at having its first exclusive retail store in India inaugurated.
Hence, online shares are projected to help the Cupertino-based company to rev-up sales to an extent at least. In related developments, Apple’s CEO Tim Cook has pledged another $5 million worth 23700 shares to an unnamed charity. This development comes almost exactly an year after Cook’s pledge of an identical $5 million towards societal causes. The Cupertino-based company has also pledged to fight the devastating effects of the recent Amazon forest fire.