India eased rules that forced companies to source 30% of its products locally. That list also included Apple. This means that the Cupertino-giant will soon begin selling its devices online. A source commented that companies such as Apple will benefit from new rules, making the world’s fastest-growing smartphone market more attractive to foreign brands.
Earlier, Apple had to produce 30% of its device parts locally. It was a requirement the firm has been lobbying against for years. This posed a problem for electronics brands because most of its devices and components are manufactured in China. The government has also allowed single-brand retailers to set up online stores before physical shops.
Those not aware, trade tensions are escalating and damaging the ties between the US and China so the new investment rules could provide a boost to Apple. This will allow the iPhone maker to grow its sales in the nation. If Apple thinks it through, it can reduce its dependency on China by building an alternative supply chain in India.
Apple’s several devices are available online via Amazon India and Flipkart, which is owned by Walmart. In addition, third-party brick & mortar retailers like Croma, Reliance Stores and a few other also sell Apple products.
Apple CEO Tim Cook said back in May, “India is an important market for the company which is a very important market in the long term. It’s a challenging market in the short term, but we’re learning a lot. We plan on going in there with sort of all our might.”
Apple’s older devices are assembled by Wistron, a Taiwanese contractor at a factory in Bangalore. Foxconn Technology Group said to be the world’s largest contract manufacturer, is testing the assembly of iPhone X in a Chennai factory.
Apple will begin selling its iPhone, iPads and Apple Mac computers online in the coming months. It is also setting up its first company-owned offline store in Mumbai, India, which is rumored to open next year.