Sales of Apple products, cars in India see surge in cash transactions

Apple’s two company-owned stores in India, which it opened in April last year, saw a large number of customers preferring to pay in cash. This led the tech giant to install currency note counting machines in both its Mumbai and Delhi outlets.

As customers paid cash to purchase mobile phones or computers, around 7-9 per cent of Apple’s sales in these Indian stores were cash transactions, compared to less than 1 per cent, or even none at all, observed in its stores in the US or Europe, according to a report in the Economic Times (ET).