Apple (AAPL) Plans Massive Retail Expansion in Key Growth Market
Tweet
Share
E-mailGet Alerts AAPL Hot Sheet
Price: $333.17 +0.23%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.3%
EPS Growth %: +7.0%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.3%
EPS Growth %: +7.0%
Join SI Premium – FREE
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Apple Considers Return to Server Market, Has Talked With Nvidia to Use Network Tech - Information
- Apple’s Outstanding Comedy Widow’s Bay triumphs as the most decorated freshman comedy in Emmy history and Apple TV leads as the most awarded network at the 78th Primetime Emmy Awards
- Senators Ask FTC To Probe Amazon, Walmart AI Chatbots - WSJ
Create E-mail Alert Related Categories
Insiders' Blog, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
