Apple’s CEO Tim Cook will be visiting India to inaugurate the company’s first retail store in the country this week. During his visit, Cook will be meeting with India’s Prime Minister Narendra Modi and Deputy IT Minister Rajeev Chandrasekhar to discuss Apple’s growing ambitions for the Indian market. This visit highlights Apple’s increasing focus on India, which is the world’s second-largest smartphone market.
Despite having just a three per cent market share in India, Apple has been expanding iPhone assembly via contract manufacturers and boosting its exports. According to data from the India Cellular and Electronics Association, more than 50 per cent of the $9 billion worth of smartphones exported from India between April 2022 and February 2023 were iPhones.
On Monday, Apple opened its first store in Mumbai, but only for a private event where bloggers and tech analysts reviewed the design and store layout. The store will open to the public from Tuesday, and a second store will be inaugurated inside a New Delhi mall on Thursday.
In the past, Apple has sold its products in India through resellers or e-commerce websites such as Amazon. The Mumbai store, which is in the premier Reliance Jio World Drive mall, is 20,800 square feet and far bigger than the planned Delhi outlet, according to local registration documents.
Apple currently assembles iPhones in India through three of its contract manufacturers, Foxconn, Wistron Corp, and Pegatron Corp. The company also plans to assemble iPads and AirPods in India. Cook’s meetings with Modi and Chandrasekhar are expected to focus on Apple’s continued expansion in India and its future plans for the country.
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