Last week, on Saturday, Apple opened its first retail store in Brazil. The opening drew large crowds, who queued up to see the new store and buy Apple’s products.
LA Times reports:
Apple threw open the doors Saturday to its first store in Brazil, one of the world’s fastest-growing smartphone markets and a region that is crucially important to the company.
The opening is the company’s first in Latin America, and comes in a country that is set to host the World Cup this summer and the Olympics in 2016.
The grand opening drew more than 1,700 people
Apple CEO announced the opening of the store with the following tweet:
'Obrigado' to everyone who visited our new store in Rio de Janeiro today and to our terrific customers across Brazil! pic.twitter.com/3nFPxN4m3Y
— Tim Cook (@tim_cook) February 15, 2014
Brazil is one of the world’s fastest growing smartphone markets, and Apple’s move to open a store there comes as the smartphone market in the US saturates. The US has been Apple’s stronghold, but the company hasn’t seen similar success in other parts of the world, where most people buy cheaper Android phones.
The high import duties in Brazil make the already expensive iPhone more pricey. The 16GB iPhone 5s in Brazil costs a 2,799 reais ($1,174) in Brazil, as compared to its $649 contract-free price in the US. Given the price, it isn’t surprising that Apple’s marketshare in the country is just 9.1 percent, compared to Samsung’s 42.4 percent.