India Apple Preps Tender

Apple Inc has finalised a shortlist of locations for its first retail store in India according to people familiar with the plans as the company redoubles its efforts in the worlds fastest-growing smartphone market.The iPhone giant has zeroed in on several upscale sites in Mumbai and plans to make a final decision in the next few weeks said the people asking not to be named because the discussions are private. The vetted spots are comparable to iconic Apple locations on Fifth Avenue in New York Regent Street in London or the Champs-Elysees in Paris they said. Apple has been prohibited from opening its own stores in the country because it doesnt meet local sourcing requirements but its shifting manufacturing into India and is in talks with the government about its retail expansion.The Cupertino California-based company has struggled to establish itself in India where consumers have opted for less expensive Chinese brands such as Xiaomi and Vivo. But chief executive officer Tim Cook has vowed to improve in the fast-growing market especially as Apple loses ground in China. Manufacturing in India will also allow the company to sidestep 20 per cent tariffs on imported phones making its devices more competitive.India is a very important market in the long term Mr Cook said after the companys earnings report last week. Its a challenging market in the short term but were learning a lot. We plan on going in there with sort of all of our might.