- Apple told CNBC’s India affiliate it is “eager” to open a retail store in India, but it may not happen immediately.
- The announcement comes after Apple has spent years trying to make a dent in India’s smartphone market.
- Apple didn’t crack the top five smartphone makers in India by market share in 2018 due in part to its expensive prices.
Apple said it is “eager” to open its first retail store in India after years of struggling to gain market share in the region, according to a statement provided to Apple fans in India will likely have to wait a bit longer for a store to open, however. In the statement, Apple said, “It will take us some time to get our plans underway and we’ll have more to announce at a future date.”
A retail store opening would mark just the latest tactic Apple has tried to make a dent in the Indian market. Xiaomi and Samsung dominated the smartphone market in the region in 2018 by shipments, holding 28.9% and 22.4%, respectively, according to data from research firm IDC. Apple didn’t even crack the list of the top five players, who hold 73% of the market, according to IDC.
In 2016, Apple CEO Tim Cook touted the “huge market potential” in India based on its large population with lots of young people. But since then, the company has still struggled to keep up with other smartphone makers in the region. Analysts say Apple lags behind in India in part due to the price of their products, which is prohibitive to many potential buyers in the region…