Apple opens its first online store in India next week #News

The Silicon Valley giant said on Friday that Apple will open its first online store in India next week, hoping to profit during Indian festivals and expand a small share of the booming market.

The company is a small company in India, and its smartphone sales lag behind South Korean rival Samsung, while the iPhone maker only sets prices in the high-end market.

Asia's third-largest economy hit a record low due to the months-long coronavirus blockade, and it once again entered India.

India’s busiest shopping season usually starts in October, and stores offer large discounts and free gifts to help customers celebrating popular Indian festivals such as Dussehra and Diwali to buy large-scale goods in large quantities.

Apple’s online store will open on September 23, and it will offer "a range of affordable options," including discounts on Macs, iPads and technology accessories for students.

Shoppers will be able to engrave their AirPods, iPad and Apple Pencil in English, Hindi and other Indian languages.

Apple currently sells through third-party retailers in India, including Amazon. Due to its large population of 1.3 billion and relatively few smartphone users, the country is regarded as a huge potential market for the company.

According to industry estimates, the company only accounts for 2% of the Indian market.

According to reports, an application to open Apple Stores in India was rejected in 2016 because the rules stipulate that foreign retailers must purchase 30% of their products locally.

Since then, New Delhi has relaxed the regulations, giving companies up to eight years to meet procurement requirements as part of attracting foreign investment and creating job opportunities.

Some of its smartphones (including the iPhone 11) are assembled at factories operated by Taiwanese manufacturers Foxconn and Wistron in Chennai and Bangalore, India.