UK banks hold sufficient capital to cope with no-Brexit and Trump trade war, BoE says 

Hitachi commences sale of $5.6 billion chemical unit 

Cybersecurity firm McAfee’s IPO could raise at least $1 billion: Reports 

Hitec Vision, Oman’s Petrogras to acquire Total’s British North Sea oilfields for $635 million


Apple plans to alter India strategy to boost market share

Apple products, India market

For Apple, all markets except Africa have ‘saturated’, and the biggest potential for it outside of the US is India

Apple might make some modifications to its India strategy in an effort to strengthen its market share in the country. As part of the strategy, the company is planning to increase its manufacturing capacity and open branded retail stores. India is the world’s second-largest market for mobile phones.

Chief Executive Tim Cook told analysts that the company will boost its local manufacturing in India, the Press Trust of India reported. According to him, there was a temporary drop of 22% in the price of the iPhone XR in April. It was then that the company realised that it needs to act on its sales strategy in the country.

Faisal Kawoosa, founder and chief analyst of market researcher techARC, said, “All other markets have already saturated for them and the other ones such as Africa are yet to arrive. The largest opportunity for them outside of the US is India.”

At present, Apple pays 20% import tax on every handset the company ships to India. This makes the product more expensive than its range in the US. For example: the iPhone XR was sold at $749 (nearly Rs. 52,809 after conversion) in the US while it was sold in India for Rs. 76,000.

Kawoosa said that local manufacturing will help Apple bring down the cost. However, they will have to understand that the idea of premium has changed in the country with the introduction of OnePlus in the market. “Even if they manage to bring down the price, their phones will be available in the leagues of premium smartphones by Samsung and Google, and that market is less than 1%,” he concluded.

Leave a Comment