On Monday, India outlined new policies for foreign investment laws, which means Apple could sell directly to consumers rather than selling through third-parties.
The new change will allow for Apple to apply for a three-year exemption that required companies to source 30 percent of the goods sold in the company-owned stores locally. According to Reuter…
The new directive paves the way for Apple to resubmit its application and rapidly start retail stores in India. It can also seek an additional exemption for five years if it convinces the government its products meet the “cutting edge” criteria.
If Apple applies to the rules, it will give the company a chance to sell clearance or low-cost refurbished products such as iPhones, iMacs, and iPads.
In a recent visit to India, Apple’s CEO Tim Cook spoke with India’s Prime Minister Narendra Modi about the possibilities of manufacturing and retailing in India. However, there is no word if the company has plans on making phones in India.
India is the world’s fastest growing smartphone market with sales that are expected to rise over 25 percent this year. It was last reported that Apple has less than a 2 percent share in the country’s
smartphone market. The company also saw sales grow 56 percent year-on-year in the fourth quarter in India, even though it was from a small base and older products.
Source info: Reuter