Tata Group seems to be betting big on Apple products in the country. According to a report in Economic Times, Tata Group aims to open small exclusive Apple stores across the country. Apple is reportedly tying up with Tata-owned Infiniti Retail, which runs the Croma store chain, for the venture, says the report quoting people familiar with the development. Infiniti Retail will become an Apple franchisee partner and aims to open 100 stores at malls as well as high-street neighbourhood locations. The Tata-Apple partnership comes as Apple is set to open its first-ever company-owned flagship store in Mumbai in the first quarter of 2023. The Apple-owned store has been in the works since the year 2019, and has been reportedly delayed due to a pandemic.
The report says that these Apple Authorised Reseller stores will be smaller than Apple Premium Reseller stores. The Apple Premium Reseller stores are typically more than 1,000 sq ft in area, these stores will be of 500-600 sq ft each. While the smaller stores will sell iPhones, iPads and Apple Watch. There will also be the larger format stores that will have the entire Apple range, including MacBooks computers. India currently has about 160 Apple Premium Reseller stores.
Apple iPhones sales in India on a record-setting spree
In the past two years, India has emerged as an important market for Apple. The company has reported best-ever performance in terms of sales since the past two years. In July this year, Cybermedia Research (CMR) reported that Apple had sold close to 1.2 million iPhones in the second quarter of 2022. This was around a whopping 94% growth year-on-year. CMR attributed the growth to the high volume sales of iPhone 12 and iPhone 13. And it won’t be a surprise to see those two iPhones topping the charts again.
During Apple’s recent quarterly earnings call, CEO Tim Cook revealed that the revenue from the iPhone grew 10% year over year compared to $42.6 billion. Cook further said that the iPhone’s performance was “particularly” impressive” in emerging markets. Among those, Apple CEO said that India had set “a new all-time revenue record.” He added that the company set a quarterly record for “upgraders” — those who move from older iPhones to newer ones. Not only this, there was double-digit growth among “switchers” — those who move from Android to iPhone.
The report says that these Apple Authorised Reseller stores will be smaller than Apple Premium Reseller stores. The Apple Premium Reseller stores are typically more than 1,000 sq ft in area, these stores will be of 500-600 sq ft each. While the smaller stores will sell iPhones, iPads and Apple Watch. There will also be the larger format stores that will have the entire Apple range, including MacBooks computers. India currently has about 160 Apple Premium Reseller stores.
Apple iPhones sales in India on a record-setting spree
In the past two years, India has emerged as an important market for Apple. The company has reported best-ever performance in terms of sales since the past two years. In July this year, Cybermedia Research (CMR) reported that Apple had sold close to 1.2 million iPhones in the second quarter of 2022. This was around a whopping 94% growth year-on-year. CMR attributed the growth to the high volume sales of iPhone 12 and iPhone 13. And it won’t be a surprise to see those two iPhones topping the charts again.
During Apple’s recent quarterly earnings call, CEO Tim Cook revealed that the revenue from the iPhone grew 10% year over year compared to $42.6 billion. Cook further said that the iPhone’s performance was “particularly” impressive” in emerging markets. Among those, Apple CEO said that India had set “a new all-time revenue record.” He added that the company set a quarterly record for “upgraders” — those who move from older iPhones to newer ones. Not only this, there was double-digit growth among “switchers” — those who move from Android to iPhone.
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