On a quarterly basis, Apple AAPL has been performing very well, but the company could be missing out on billions of dollars in additional revenue.
Trip Chowdhry, the Managing Director of Equity Research at Global Equities Research, told Benzinga that while there are 60 million potential smartphone customers in India, Apple has only scratched the surface of its potential within the growing nation.
"I think it's a combination of many things," said Chowdhry. "I think it is the lack of focus of Apple and the existence of competition. Basically, BlackBerry BBRY and Samsung are very aggressive in creating a brand and having an association with whoever uses BlackBerry or Samsung are considered elite customers. When you talk to consumers in India, they literally find that when they buy Samsung or BlackBerry they are buying an iPhone at half the price."
Chowdhry said that this belief is the result of resellers who are "not doing a good job." He outlined a few key reasons that explain why:
Market News and Data brought to you by Benzinga APIs- They don't have enough displays.
- They don't let you touch the merchandise.
- They don't have workshops.
- Users can't take photographs of the merchandise.
- Change the leadership team in India.
- Change the reseller or empower them or make them as close to the U.S. stores as possible. (Let users touch the merchandise, implement superior displays, etc.)
- Build awareness all over the place.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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