Apple Inc. (NASDAQ:AAPL) is famous for its secrecy about its outsourcing contracts. It is reported by WSJ that Apple Inc. (AAPL) is set to expand its stores and this is expected to rise significantly in coming year.
Currently, the Cupertino, Calif.-based company makes its products available to Indian customers via partnerships with local distributors like Ingram Micro and Redington (India) Ltd.
Like China, in India the local regulations prevent many notable brands like Rolex and Sony to setup their stores because the local distributors in India want control. Similarly, in the past Apple Inc. (NASDAQ:AAPL) partnered with local retailers to make it possible that its high end brand would reach the masses.
Like Apple, many electronics and high-end brands such as Sony and Rolex may want to set up stores of their own in India for better control and distribution, but the stiff sourcing norms have held them back. Typically, these companies make their wares in one or two countries from where they are shipped across the globe.
Apple Inc. (AAPL) was allowed by the Indian government to open stores and the U.S. Company’s technology outsourcing operations in the country as a part of legislation that requires the mandatory 30% local-sourcing requirement for foreign retailers.
Apple Inc. (NASDAQ:AAPL)’s plans to open its retail outlets in India is dependent on the Indian government, if it eases local sourcing conditions, it is said by two senior executives who have business relations with the California-based company in India.
In the last trading session, Apple Inc. (NASDAQ:AAPL) stock opened at $ 678.75, and then finally it slipped -2.09% to close at $667.10.