Apple has an iPhone problem in India
New Delhi (CNN Business)Apple’s problems in China are piling pressure on the company to find a way to grow in India, the world’s hottest market for smartphones.
But with the most expensive iPhone costing more than the average annual wage, Apple (AAPL) faces an uphill battle to take a much bigger share of India’s market than its current 2%.
Tariffs on imported smartphones, a ban on Apple Stores in India and the weakness of the Indian rupee against the US dollar have hobbled the Silicon Valley giant.
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