Tim Cook to launch Apple’s stores in India, may seek meeting with PM Moditext_fields
Mumbai: Apple Inc. Chief Executive Officer Tim Cook is reported to be launching India’s first iPhone stores next week, given the potential forthe growth on the basis of sales and manufacturing.
Reports further claimed that Cook would preside over the opening of Apple Stores in Mumbai and Delhi, reportedly on April 18 and April 20 respectively.
The first store is located in Mumbai's upscale Bandra Kurla Complex, while the second store is in a high-end mall in the Saket neighbourhood of New Delhi. The stores have been long-awaited due to India's strict regulations requiring foreign brands to source a significant portion of their goods within the country.
Apple's online store in India was launched in 2020, but the company's relatively high prices have been a challenge in a market where affordability plays a significant role in purchase decisions. However, India is the world's second-largest smartphone market and among the fastest-growing, making it an important market for Apple.
On the earnings call, Cook emphasized India's importance as a market and production base and said that Apple set a quarterly revenue record and grew strongly year-over-year in India.
In addition to the store openings, Cook is also seeking a meeting with Indian Prime Minister Narendra Modi, whose government has been offering incentives to attract Apple's manufacturing partners to the country. Cook said he is "very bullish on India" and sees it as a major focus for Apple.