Apple’s retail stores in India post record sales

Apple’s gambit of opening retail stores seems to have paid off as its first two own stores have grossed monthly sales of over Rs 22-25 crore each, well over two times what could be the highest revenue for an electronics store in the country during non-Diwali period. The Mumbai store in Jio World Drive at Bandra Kurla Complex is now among the top 10 Apple-owned stores. It had a first-day billing of over Rs 10 crore, which is Rs 2-3 crore more than what some of the largest local electronics stores post in a month.

Why it’s important: Higher disposable incomes among a section of India’s upper middle class have boosted demand for Apple’s premium products. The tech giant would like to see the trend continuing. Moneycontrol