Apple Plans 500 Retail Stores in India

Apple Inc. (NASDAQ: AAPL) is planning to open 500 stores in India, including smaller towns and cities, reports Times of India. According to sources, the stores will range in size from 300-600 square feet.

Apple has two major distributors in India, Redington and Ingram, who supply products to regional distributors. Redington accounts for almost 70% of Apple's sales in the country.

Apple closed Thursday at $115.49, losing $0.44.