- Apple to open first physical stores in Mumbai and Delhi, India next week.
- Apple's expansion in India demonstrates confidence in the market's potential for growth.
- Apple's expansion in India is a significant step towards global reach and emerging markets.
The highly-anticipated opening of Apple's first physical stores in India is set to take place next week. The first store is due to open in Mumbai on April 18th, with a second store set to open in Delhi on April 20th. According to Bloomberg, Apple CEO Tim Cook may even make an appearance at the store openings, underlining the company's bullishness towards the country's economic potential.
Apple is hoping that the new stores will help to boost its retail sales and manufacturing activities in India. The company has been keen to establish itself in the Indian market, which has been dominated by low-to-mid-cost smartphones from companies such as Samsung and Xiaomi. In 2022, iPhone shipments in India grew by 16%, with Apple becoming the number one player in the premium segment of the market, which are phones above $365, according to Counterpoint Research.
Cook has previously expressed his confidence in the Indian market during a February earnings call, where he stated that Apple is "putting a significant amount of energy" into the country. Apple has already taken steps to bolster its position in India, including opening an online store there in 2020.
Manufacturing is also a key focus for Apple in India. The company began assembling its flagship iPhone 14 in India last year, making it the first time that the latest device has been produced in the country so soon after its initial launch. In January, India's minister of commerce and industry, Piyush Goyal, revealed that Apple is aiming to make 25% of all of its iPhones in India.
Apple's shift towards India comes as the company looks to reduce its reliance on China for manufacturing. Last year, the COVID-19 outbreak and worker protests at Foxconn's iPhone factory in Zhengzhou, China, highlighted the fragility of the Chinese manufacturing industry.
Overall, Apple's move into India is a significant step for the company, as it looks to expand its global reach and establish a stronger foothold in emerging markets. With the opening of these new stores, it will be interesting to see how Apple's fortunes in India evolve over the coming years.
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