Mumbai: IPhone giants, Apple Inc, are reportedly done with their finalization of the locations where it will establish its first retail store and it will be the financial capital of India- Mumbai. According to people familiar with the plans, the company redoubles its efforts in the world’s fastest-growing smartphone market.
Apple has finalized several upscale sites in Mumbai and plans to make the final decision in the upcoming week. As per the report, Apple is taking time to finalize the location as it will be comparable to the iconic Apple locations on Fifth Avenue in New York, Regent Street in London or the Champs-Elysees in Paris.
Apple has been barred from opening its own stores in India because it doesn’t meet local sourcing requirements, but it’s shifting manufacturing into India and is in talks with the government about its retail expansion.
Manufacturing in India will also allow the company to sidestep 20 percent tariffs on imported phones, making its devices more competitive to the Chinese smart phone giants such as Xiaomi and Vivo.