India, May 31 -- Smartphone giant Apple is poised to expand its retail presence in India with a new store in Karnataka, reportedly at North Bengaluru's Phoenix Mall of Asia, marking what is expected to be the company's third retail outlet in the country, following its flagship locations in Maharashtra's Mumbai and Delhi.

The store is expected to boost Apple's footprint in Bengaluru, where manufacturing partner Foxconn is also said to be establishing a new facility.

According to a ToI report which cited lease agreement accessed through real estate platform Propstack, Apple has signed a 10-year lease for a 7,997.8 square foot space with an annual rent of Rs.2.09 crore for its store in Bengaluru.

The lease officially commenced on November...