Apple opened its first Apple Store in India on Tuesday (18th).

(Reuters)

[Financial Channel/Comprehensive Report] Apple opened its first Apple store in India on Tuesday (18th), stepping up competition with Samsung in the growing smartphone market in Asia's second largest economy.

The first store, called Apple BKC, is located in the populous city of Mumbai, and on Thursday, Apple will open another store in the capital, New Delhi.

Apple Chief Executive Tim Cook's visit to Mumbai to open the flagship consumer store comes as the company manufactures in a country poised to grab a bigger share of Western technology from China.

It has been 15 years since Apple sold the iPhone 3G in India for the first time (August 2008) to opening a store today, and Apple still faces several business challenges in India.

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India is also set to overtake China this year as the world's most populous country, but Apple's share of the world's third-largest smartphone market remains small, accounting for less than 5 percent of phone sales last year.

However, Apple's market share is also growing rapidly by value as it challenges Samsung in the expensive high-end handset segment.

Apple had an 18 percent share of the market by value last year, trailing only Samsung at 22 percent, according to market monitor Counterpoint Research.

Hundreds of people lined up Tuesday morning for Cook to open the glass doors of the new store, where a drum band played while Apple employees danced inside.

A young boy wears a T-shirt that reads: Future CEO of Apple.

A teenager drew Cook's portrait and wanted the world-famous CEO to sign it.

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