Apple Inc. (NASDAQ:AAPL) has experienced major growth in revenue and profit in international markets over the last few months, and continues to grow in promising markets such as Asia, and the United Kingdom. However, Apple’s (AAPL) increasing influence in South America, more specifically, Brazil has led to a very promising outlook for Apple.
Apple CEO Tim Cook noted that Brazil appears to be a future growth area, also mentioning that, “I think there’s a huge opportunity for us there, and we’ve more than begun to go deeper into Brazil”. Cook, although talking positively about growth in Brazil, was quick to mention that retail was not one of Apple’s goals at this point, saying, “But I don’t want to signal that that means that Apple retail will be there, because I don’t envision that occurring in the near term”.
Brazil is home to almost 200 million people and has one of the best economies in South America. Brazil’s Per capita income, while not as strong as the United States competes directly with China for the number two spot, and shows that the country is economically strong enough to support retail presence from big companies such as Apple.
Customers in Brazil currently pay the most for Apple products in the world, with an unsubsidized 16 GB iPhone 4S coming in around US$1,400 in Brazil. While these high prices can be a result of Brazil’s high import duties, Apple is going to have to market and match prices for their products accordingly with the rest of the world in order to make a reasonable profit from the South American country.