Apple Plans 500 Retail Stores in India
Apple Inc. (NASDAQ: AAPL) is planning to open 500 stores in India, including smaller towns and cities, reports Times of India. According to sources, the stores will range in size from 300-600 square feet.
Apple has two major distributors in India, Redington and Ingram, who supply products to regional distributors. Redington accounts for almost 70% of Apple's sales in the country.
Apple closed Thursday at $115.49, losing $0.44.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.