Apple Starts A 'Cashback' Smartphone Price War In India
by Sneha Shah
I had written sometime ago how Apple (AAPL) has started to focus on the Indian smartphone market through a number of new initiatives. The Indian market for smartphones is quite small compared to the developed markets due to the low per capita income levels. Smartphones currently make up less than 10% of the total mobile market, which is very low even when compared to other countries like China. However, this low level of smartphone penetration means that the opportunity to grow is huge. Smartphones grew at an astounding ~75% rate in the 2nd half of 2012 according to research agency Cyber Media. Apple is making aggressive moves to capture the Indian market and has for the first time started a cashback war in India. I think this is a great move for Apple and remain positive on the stock. read more »
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