I am glad most of the commenters in this thread at least have a vague idea about India and the Indian market.
While the percentages may seem low, the numbers speak for themselves. 3-5% of the Indian population would be much bigger than most European countries.
Most of the people, specially in the big cities, can afford between 1-2 cars, a house (owned or rented) and a decent living condition. A large percentage of them are debt free. And this is just the middle class.
The upper middle class, or the relatively well off, routinely take trips all around the world. Have about 2-4 cars in their owned houses, have chauffeurs to drive them around and at least 2 servants in the house. Home theatre systems and big screen TVs, etc are all very well the norm. And these people are willing to pay whatever it takes to get the latest gadget in their hands!
Or the latest designer brand. And that is the reason why almost all of the designer brands recognise India as a huge market and have invested huge amounts of money in the very expensive real estate market to open shops.
Khan Market, in Delhi, is one of the most expensive high streets in the world:
http://articles.economictimes.india...shopping-destination-hong-kong-s-causeway-bay
The potential for a freely available iPhone to be popular is huge! Specially as a lot of people I know have already paid over $2000 for one to be the first to have it in their hands.
India is also all set to be the largest retail market in the world in the coming years.
Honestly, I am not sure what the popularity of the iPhone would be if people in the US were expected to spend $800-900 on it instead of the measly upfront amount they spend right now.
While the percentages may seem low, the numbers speak for themselves. 3-5% of the Indian population would be much bigger than most European countries.
Most of the people, specially in the big cities, can afford between 1-2 cars, a house (owned or rented) and a decent living condition. A large percentage of them are debt free. And this is just the middle class.
The upper middle class, or the relatively well off, routinely take trips all around the world. Have about 2-4 cars in their owned houses, have chauffeurs to drive them around and at least 2 servants in the house. Home theatre systems and big screen TVs, etc are all very well the norm. And these people are willing to pay whatever it takes to get the latest gadget in their hands!
Or the latest designer brand. And that is the reason why almost all of the designer brands recognise India as a huge market and have invested huge amounts of money in the very expensive real estate market to open shops.
Khan Market, in Delhi, is one of the most expensive high streets in the world:
http://articles.economictimes.india...shopping-destination-hong-kong-s-causeway-bay
The potential for a freely available iPhone to be popular is huge! Specially as a lot of people I know have already paid over $2000 for one to be the first to have it in their hands.
India is also all set to be the largest retail market in the world in the coming years.
Honestly, I am not sure what the popularity of the iPhone would be if people in the US were expected to spend $800-900 on it instead of the measly upfront amount they spend right now.