Apple Emerging Markets: It is no surprise that Apple Inc. (NASDAQ:AAPL) is looking to grow its brand in places other than the United States. CEO Tim Cook has discussed this time and time again. He has spent time in China, and made note of the fact that this is the company’s biggest market in the future.
But did you know that the Cupertino-based company is making big waves in India as well?
Believe it or not, the company has seen sales grow 400 percent over the past three months according to a recent article in The Times of India.
Here is some information from the article to give you a better idea of how well Apple Inc. (NASDAQ:AAPL) is performing in India and what the future holds:
“Market researcher IDC estimates that over the past three months, sales of Apple devices, especially iPhones, have gone up by 3-4 times. Part of the success has to do with opting for an open distribution model, signing up with distributors Redington and Ingram Micro. “Apple is aggressively looking at the Asia-Pacific market with strong focus on China and India,” said Manasi Yadav, a senior analyst at IDC India.”
There is no denying the fact that Samsung is top dog in the smartphone market in India. That being said, Apple Inc. (NASDAQ:AAPL) is doing its part to try to make up ground as quickly as possible.
The article goes on to add some additional information:
“Last month, Redington, which handles nearly 70% of Apple’s India sales, surprised analysts with better-than-expected revenue from iPhone shipments — a little over Rs 400 crore in the December quarter. Redington, which declined comment for the report, told analysts during an earnings call that Apple reimbursed it the cost of full-page newspaper advertisements through higher margins on iPhones.”
The Apple Inc. (NASDAQ:AAPL) push into India is similar to what the company did in China, starting a couple years back.
Final note: don’t forget that the Apple iTunes Music Store was made available in India in December 2012.
What are your thoughts on Apple’s push into India? Is this a good strategy?
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DISCLOSURE: I have no positions in any stock mentioned.
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