Apple sets aggressive revenue targets for India franchisees
Apple is determined, and it shows. In India, the company seeks to rapidly build revenue to shore up its business as other markets totter. With that in mind it’s changing its approach to retail to do just that.
Apple is looking for growth
The company wants to increase sales revenue in India. To that end it has ramped up the student offer it provides in its own retail stores, while extending similar offers across its 200+ franchisees.
Apple has also almost doubled the sales targets it requests from franchisees.
An Economic Times report claims this suggests the company seeks double-digit growth in India. It is also expected to open up more of its own self-hosted retail stores across India.
As we know, these moves reflect CEO Tim Cook’s intensification of efforts in India.
These extend to corporate social responsibility schemes to support a growing manufacturing base there, along with development hubs, Apple retail and a strong focus on retail sales there.
At the tipping point
The iPhone is currently the leading premium smartphone in India, beating long term incumbent, Samsung, into second place. iPhone set March quarter records in India, doubling on a year-over-year basis, Apple said.
“India is an incredibly exciting market. It’s a major focus for us. I was just there and the dynamism in the market, the vibrancy is unbelievable,” Cook recently said.
“I couldn’t be more delighted and excited by the enthusiasm I’m seeing for the brand there. There are a lot of people coming into the middle class, and I really feel that India is at a tipping point, and it’s great to be there.”
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