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While Apple might not have released the iPhone 5S and 5C in India during its first wave of roll outs, it still believes that India is a high priority market. The company has now outlined a plan to capture a bigger market share in the country by aggressively entering smaller cities and towns in India.
Apple India's top brass recently met with CEO's and Senior executives from top electronic retail chains in India and "spelt out plans to enter the top 50 tier II and III markets in India by selling its phones, tablets and portable music players at their outlets in an exclusive corner or a shop-in-shop", according to a report by ET.
"Apple has realized that if it wants to grow fast in India, it has to look beyond the metros," said the CEO of one of India's retail chains, according to ET. "The company wants to grow upwards of 30% year-on-year in India and feels the smaller markets would play a critical role since the aspiration level of Apple products amongst the youth and rich is growing there as well."
This development comes right after the company saw considerable success in metros and large Indian cities in India. Apple's focus is now moving onto smaller cities and towns, as the company believes that the move will help it achieve its objective of over 30% annual growth in the country. It also has a target of increasing its revenue from India to about $1 billion by the end of 2013.
In fact, Apple boss Tim Cook declared in July that iPhone sales in India had increased by about 400 percent, while iPad sales reported double digit growth. This is an indicator that the company has finally recognized the importance of India as a market for its products.