Hong Kong CNN —Apple launched an online store in Vietnam this week, in another nod to the growing importance of emerging markets for the iPhone maker.
Markets like Vietnam, India and Indonesia are becoming more important for Apple as its growth in developed markets, including China, slows down, prompting the company to focus on places where it’s traditionally been less active.
“Clearly, growth has slowed globally and thus put more pressure [on Apple] to aggressively go after emerging markets,” said Daniel Ives, managing director of Wedbush Securities.
This has “been the core part of its success in China that now can be replicated in India, Indonesia, and Vietnam, among others,” said Ives.
And while consumers are becoming more affluent, the company’s price points are still considered high in many emerging markets, noted Ives.