Apple Store
Apple's plans of opening Apple Stores across India may have been dashed by the government, which has scrapped the 30 percent local-sourcing norms waiver Apple had received. Picture: A woman walks out of an apple store in Beijing, 2 November, 2015.Reuters

Apple India is on the lookout for a new business head following the exit of long-time country manager Maneesh Dhir. The news of Dhir's departure comes at a time when the company is reportedly planning to open its stores across India.

Maneesh Dhir had joined Apple in 2010 as India country manager. During his tenure, Apple's sales grew from $100 million to $1 billion. It is not clear why Dhir quit the company, but he has confirmed his departure, according to The Economic Times.

In the mean time, Apple is expected to appoint a temporary country head from within the company until it finds a "permanent successor" to Dhir.

Dhir's resignation is the second high-level exit from the company in the past few months after Sharad Mehrotra, who used to head the company's enterprise mobility unit for India, quit the company to start his own firm.

India, the world's second largest telecom market, has the potential to become a multi-billion dollar market. Keeping in tune with this growth, the company intends to open their stores in India and is said to have filed an application with the Department of Industrial Policy and Promotion (DIPP) for the same. 

Apple is currently facing stiff competition from rival Samsung for a share of the smart phone market in India.

Taking into account the dollar-rupee exchange rates, Apple reportedly generates revenues worth $1.3 billion in India. The company, which has less than 2% market share in the country, is trying to boost its sales by widening its retail network, offering discounts and stepping up marketing efforts, The Economic Times added.

The company posted an increase of 44% to Rs 6,472 crore in terms of sales in the last fiscal year, according to the daily and its net profit doubled to Rs 242.85 crore during the period.

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