Apple To Mark Its India Debut Store In Financial Hub Mumbai

Apple Inc AAPL will soon open its first official retail store in India.
On Wednesday, the iPhone maker released a picture of the barricade of its retail store in India’s financial capital, Mumbai.
The store in Indian business tycoon Mukesh Ambani-owned posh shopping mall stands at the city’s central business district alongside multinational banks, Bloomberg reports.
The launch highlights Apple’s push to expand in the South Asian country likely to surpass China as the most populous nation this year. India’s growing middle class is an attractive target group for the company’s pricey smartphones and computers.
Apple is expanding its manufacturing operation in the country too.
It is also building a store in the capital, New Delhi.
The company, this year, reshuffled the management of its international businesses to focus more on India after its online sales helped clock record revenue in the December quarter.
Apple is also amid efforts to migrate more production from China to countries like India to tap its local manufacturing push, financial incentives, and relatively cheaper labor.
Price Action: AAPL shares closed lower by 0.32% at $165.63 on Tuesday.
Apple Store photo via Wikimedia Commons
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