- Apple CEO Tim Cook is visiting India to inaugurate the company's first official retail stores in Mumbai and New Delhi.
- Despite having just a 3% market share in India, iPhones accounted for over 50% of smartphone exports from the country between April 2022 and February 2023.
- Apple is assembling iPhones in India via three of its contract manufacturers and plans to assemble iPads and AirPods in the country in the future.
Apple CEO Tim Cook's upcoming visit to India is creating buzz as the company opens its first official retail store in the country. The visit will also include meetings with India's Prime Minister, Narendra Modi, and deputy IT minister, Rajeev Chandrasekhar. The trip underlines Apple's growing interest in India, which is the world's second-largest smartphone market.
Despite having just a 3% market share in India, Apple has been expanding its iPhone assembly via contract manufacturers and boosting exports. In fact, data from the India Cellular and Electronics Association shows that iPhones accounted for over 50% of the $9 billion worth of smartphones exported from India between April 2022 and February this year.
Cook's visit coincides with the opening of Apple's first official retail store in Mumbai. The store, located in the Reliance Jio World Drive mall, is 20,800 square feet and features a layout designed to impress bloggers and tech analysts. The Mumbai store will open to the public from Tuesday, with a second store in New Delhi set to open on Thursday.
While Apple has sold its products in India via resellers and e-commerce websites like Amazon, the opening of official retail stores in India is a significant step towards increasing the company's presence in the country.
Apple's interest in India is evident in its decision to assemble iPhones in the country via three of its contract manufacturers: Foxconn, Wistron, and Pegatron. The company also plans to assemble iPads and AirPods in India in the future.
Cook's meetings with Indian officials signal Apple's desire to expand further in the country. While the specifics of the meetings are unknown, it is clear that Apple sees India as an important market and is committed to increasing its presence there.
Overall, Cook's visit and the opening of official retail stores in India highlight Apple's growing ambitions for the country. As the world's second-largest smartphone market, India presents a significant opportunity for Apple to expand its customer base and increase its market share. With the company's focus on assembly and exports, it is clear that Apple is committed to making its mark in India for the long term.