A first Apple retail store in India is unlikely to open its doors until next year at the earliest. "We've been hiring for India retail and distribution for the last few months, and Tim's message was that we need to double down on that," said an Apple official in India. The second leg of Cook's trip, to India, the world's third-largest smartphone market, came at a crucial time as Apple battles slowing growth in China, its second-biggest market. With slowing iPhone sales in China, Apple Inc is having to take India more seriously, but investors hoping for a stock price fillip from CEO Tim Cook's week-long Asia trip instead were given a taste of the daunting challenges that lie ahead. His visit came just days after Apple announced a $1 billion investment in a local ride-hailing app firm, a move Cook says will help Apple better understand China.

Source: dna May 24, 2016 03:52 UTC