Apple has opened its first store in Brazil, which is seen as one of the fastest growing markets for smartphones.
The launch comes ahead of this year's Football World Cup which will be held in Brazil, later this June.
Apple CEO Tim Cook tweeted about the Store’s opening saying,
Apple's first store in South America, located at a Mall in Rio, had a grand opening with an attendance of over 1,700 people. But its not all good news, especially the pricing.
According to Bloomberg,
"Apple’s 16-gigabyte, contract-free iPhone 5s will sell for 2,799 reais ($1,174) in Brazil. That compares with $649 in the U.S. and 5,288 renminbi ($872) in China. The price of the iPhone 5s in Brazil, offered by authorized resellers, has jumped 17% since September on Apple’s website."
This is because of Brazil's high taxes on imported products.
Apple however, are hoping to find ways to attract more customers in emerging markets such as Brazil, as they continue to compete in the growing smartphone market battle with Android and Windows Phones.
via: LA Times.