As the smartphone market in China slows, Apple has taken a big step towards expanding its presence in India by applying for official government permission to launch its first flagship retail store in the country.
The move underlines a broader search for new growth markets for Apple, at a time when some Wall Street analysts predict iPhone sales might fall this year, for the first time in its history.
The world’s most valuable business by market capitalisation has steadily increased its operations in India over recent years but the long-awaited decision to open a shop is likely to be viewed as a clear statement that Apple plans to expand more aggressively in the fast-growing Asian market.
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