What you need to know
- Apple has confirmed that its new India store will not open until 2021.
- The revelation was made at Apple's shareholder meeting on February 26.
- The store is set to be located in Mumbai's Bandra Kurla Complex.
Apple has confirmed that its first-ever India Apple Store will not open until 2021, however, online sales in the country will begin later this year.
As reported by TechCrunch, Tim Cook briefly addressed shareholders on the market at Apple's annual shareholder's meeting yesterday, February 26.
According to the report:
Back in October it was first reported that Apple had secured a location for its first Apple Store in India in Mumbai's Maker Maxity mall, which is situated in the Bandra Kurla Complex.
Last month, a report cast doubt on the planned September deadline for opening the store, something that Apple has now confirmed. Whilst Apple hasn't offered a clear timeframe, it is now confirmed the store will open at some point next year.
As the report mentions Apple has also struggled with its online presence in the region, however, it seems Apple plans to open up its online store in the nation sometime this year.
Apple has struggled in the nation for several reasons. The majority of smartphones in India are priced at $150 or less, and many of its citizens can't afford to buy Apple products. This is compounded by very heavy import duties levied by the government, which makes the phones even more expensive. Apple has recently begun to manufacture some of its iPhones in India, which is important because Indian FDI (Foreign Direct Investment) laws prevent 100% single-brand retail from foreign companies. At least 30% of goods sold must be sourced from within the country, hence Apple's push to manufacture phones in India.
Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9
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