Apple Sees Opportunities in India

18 May, 2016

According to reports, Cook plans to introduce the accelerator program for iOS developers and to make known the development center for digital maps in Hyderabad. The CEO also said that he was encouraged by the results that the company is beginning to see there (India) and believe there is a lot lot more.

“I view India as where China was maybe seven to ten years ago from that point of view, and I think there’s a really great opportunity there,” Cook explained further. In China, Apple currently has 33 stores which helped to boost the company’s revenue by approximately 25 percent.

The Indian market for the smartphone was believed to surge as the users are estimated to be around 200 million in 2020. In the next five years, the prize is more than one billion in smartphone sales, a research revealed. Supporting the assessment of the researcher, the consumption of the smartphones has significantly increased from January to March.

Meanwhile, the challenge for the American multinational technology company is the fact that the consumers in India are among those who would not pay much for their gadgets.

Before the announced visit of Cook, India closed its doors for the refurbished iPhones that the tech giant would like to sell in the country. Speculations arose that the CEO might discuss the possibility of opening its first ever retail stores in India.

Vishal Tripathi, a research director at Gartner India, commented that Mr. Cook is certainly going to come with an agenda. He added that high on that list is permission to open Apple Stores in India, bring up the closed chapter of importing and selling refurbished phones in the country and also explore what’s in it for Apple if it brings assembly and manufacturing to the country.

Earlier today, Apple changed hands higher to $94.01, adding 0.19 percent with a market capitalization of 534.98 billion. Currently, the stock has a price earnings ratio of 10.48 and a dividend yield of 2.42 percent.


Source link  
US Stocks Mixed, Economic Data in Focus

Shares in the United States mixed as the market waited for the outcome of the U.S. economic data and as the Fed officials were set to release their statement after the report...

Amazon to Dominate Online Deliveries in Europe

Amazon took another step in expanding its market influence as it opened doors in the European Union countries. Francois Saugier, Amazon director of European seller services, expressed his excitement towards the new business venture of the e-commerce juggernaut in Europe...

Today's Events in the Market

Europes finance ministers assembled in Amsterdam on Friday known as the Eurogroup meeting to discuss the improvement for the review of an economic adjustment program of Greece, which the Hellenic Republic obliged to pass in order to receive the following tranche of the loan...


AUD, NZD Retreat Against USD as Oil Declines

The Aussie and New Zealand dollars inched lower against the greenback on Wednesday, as the prices of oil retreated after the Kuwaiti oil workers strike ended...

Important Market Events for April 13, 2016

The International Monetary Fund (IMF) wants the European partners of Greece to grant Athens relief on its debt, which it perceives to be highly unsustainable...

Stocks Rebounds As Oil Prices Increases

On Friday, stocks and bond yields recoil as oil prices strengthens, but remained on the trail in trimming over the course of a marking and volatile week that has been witnessed by the increasing Japanese yen against the dollar...


USD Rallies as Fed Minutes Remain in Focus

The greenback traded higher against a basket of currencies as the market remained watchful on the outcome of the Federal Reserve’s march Policy meeting happening today and as economic growth ached the euro zone...

Gold Rallies to 1-week High on Fed's Dovish Statement

Gold futures extended rallies from the previous session in European trading hours on Wednesday, edging up to a 1-week high as market players lowered their expectations on the pace of interest rate hikes this year...

Stocks, Bonds Rally, while USD Declines

Asian stocks surged on Wednesday, as markets lowered expectations regarding the pace of interest rate hikes this 2016, boosting bonds and pushing the US dollar lower...

  


Share: