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Bloomberg: Apple to Open First India Online Store Next Month

Bloomberg: Apple to Open First India Online Store Next Month

A new report today by Bloomberg says Apple is preparing to open its first online store in India next month.

Apple Inc. is poised to open an online store for the first time in the fast-growing smartphone market of India next month, according to a person with knowledge of the matter, taking advantage of a relaxation of once-strict prohibitions against foreign direct retail.

The online store will be ready for operations just ahead of the festive Dussehra-Diwali spending season, according to the person, who asked not to be named discussing confidential plans.

Sales of Apple products have traditionally been limited to third-party storefronts in India, due to restrictions on foreign companies, requiring them to source 30% of production in India.

However, as of August 2019, India has eased its regulations, allowing Apple to setup first-party stores and an online Apple Store. However, the global COVID-19 crisis has delayed those plans. It was first reported in January that Apple would open an online Apple Store in India, starting in the third quarter of 2020.

Apple also has physical stores in the works, as it is reportedly preparing to open a retail store in Mumbai next year, and Bloomberg says Apple has also scouted a new location in Bangalore, near Minsk Square.

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