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Apple Inc unveiled the design of its first retail store in India on Wednesday, as several people rushed to catch a glimpse of the store’s black and yellow artwork inspired by Mumbai’s renowned taxis.
The store is still barricaded and is expected to open this month, as per Reuters.
In 2020, the Cupertino, California-based corporation opened an online retail store in India, the world’s second-largest smartphone market.
Scope for Apple’s growth in India
India is also becoming a manufacturing hub, with Taiwanese contract electronics makers Foxconn and Wistron Corp manufacturing several Apple products, including iPhones, in the country. Apple also intends to manufacture iPads and AirPods in India.
According to Counterpoint Research, Apple had a 4 per cent market share in India in 2022, behind Samsung, Xiaomi, Vivo, and Oppo. Apple, on the other hand, reported a 35 per cent year-on-year increase in shipments, owing to high demand for the iPhone 12 and iPhone 13 models.
Analysts anticipate that the Apple Store would improve Apple’s brand image and customer loyalty in India, as well as draw more developers and creators to its ecosystem.
The announcement comes more than 20 years after the California-based company originally entered the Indian market through third-party dealers.
Apple said in a statement that the brightly lighted store was “inspired by the iconic Kaali Peeli taxi art unique to Mumbai,” alluding to the city’s decades-old yellow and black taxis.
On Wednesday evening, people were taking photographs and shooting videos on their iPhones outside the store, which had the Apple logo decked out in a variety of colours and a rendition of the iconic Apple greeting that said “Hello Mumbai.”
(With inputs from agencies)
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