HCL Infosystems announced that it has signed a distributor agreement with Apple for iPhones and other products in India.
HCL Infosystems announced that it has signed a distributor agreement with Apple for iPhones and other products in India. In a BSE filing the company said,”We wish to inform that the Distributor Agreement for distribution of iPhone and other Apple products has been signed with M/s Apple India Private Limited (M/s Apple), a confirmation of which is received by the Company from M/s Apple today.”
As per PTI reports, HCL Infosystems had signed a non-disclosure agreement with Apple India on 23 December 2016 and expressed interest in taking up distribution of Apple products in India.
The story moved ahead as in January this year, Apple had released a Request For Proposal in which HCL Infosystems participated. “A definitive agreement for distributorship will be executed only upon conclusion of the negotiations and subject to our compliance to the terms of engagement,” HCL had said at that time.
HCL, a strong player in the space, already distributes mobile phones of Lenovo, Motorola and Nokia among others. A partnership with the company is also expected to be beneficial to Apple as it will enhance its presence in more Indian cities.
Currently, Apple has distribution tie-ups with companies like Ingram Micro, Redington, Rashi Peripherals and Beetel Teletech in India.
Apple, a premium segment player, is slowly opening up new avenues to expand its presence in India, which is a price-sensitive market with a burgeoning user base looking for devices in the Rs 15,000-Rs 30,000 price range. This move is likely to augment Apple’s’ market share. Currently, Apple has three per cent market share by volume and 11 per cent share by value in the country.