The word Apple is perhaps one of the most recognized brand names of our generation. The tech giant’s name is synonymous with the smartphones that rule the modern world today. It’s a name that evokes powerful responses from billions of users and fans across the world, and the famous iPhone has become a pop culture phenomenon. Such is the popularity of Apple Inc. (NASDAQ:AAPL) and its products, that company is now the most valuable on earth with a valuation of over $922 billion as of March 2018. It is now only a matter of time before the company becomes the first in history to shatter the $1 trillion value ceiling. The company is also sitting on a massive cash pile to the tune of over $256 billion, along with enjoying the crown of being the most valuable brand in the world.
Therefore it is all the more surprising to see the world’s most successful smartphone manufacturer suffer such a torrid time in one of the world’s most promising smartphone markets – India. For all its successes across the world, Apple has, thus so far, failed to crack the Indian market, and now finds itself falling further and further behind the competition. This is the matter of huge concern for the Cupertino giant, as India is the world’s fastest-growing smartphone market, and offers the single largest avenue for growth as the smartphone market continues to saturate in the West.
The scenario leads us to few head-scratching questions:
- why is Apple failing in India?
- What are the deficiencies in its India strategy, and just how different is the Indian market compared to its Chinese and American/European counterparts?
In a bid to solve the above puzzle, we ended up thought-provoking analysis.