Apple CEO Tim Cook is set to open the company’s first two stores in India next week, as the tech giant seeks to expand its presence in the country. The stores are located in Mumbai and New Delhi, and the openings highlight the importance of India as a growth market and manufacturing base. Cook’s trip coincides with India sales of iPhones reaching an all-time high, and with annual iPhone exports from the country reaching billions of dollars. Apple is hoping to diversify its manufacturing operations beyond China as relations between Beijing and Washington become strained.
Cook’s Trip to India: A Sign of Apple’s Ambitions
‘The India market represents a great opportunity for Apple’, according to Tim Cook, CEO of the tech giant. Cook is set to open two new stores in the country next week, in Mumbai and New Delhi. The move comes as Apple looks to boost its presence in India amid increasing sales and growing iPhone exports. Apple’s first store in India has been a long time in the making, due to strict regulations that forbid global brands from opening own-brand outlets unless they source a significant portion of the goods from within the country. With Cook’s visit to India, it is clear that Apple is looking to expand its operations in the region.
Cook to Open Apple’s India Stores
According to sources, Tim Cook is scheduled to open two new Apple stores in Mumbai and New Delhi next week, as the tech giant seeks to expand its presence in India. The move highlights Apple’s ambitions for the country as a growth market and manufacturing base – in recent years, India sales of iPhones have reached an all-time high, and annual iPhone exports from the country have reached billions of dollars. Cook’s visit to India comes seven years after his maiden visit in 2016, and follows the opening of Apple’s Indian online store last year.
Apple Stores in India: A Long Time in the Making
Apple’s two new stores in Mumbai and New Delhi have been a long time in the making, due to strict regulations that forbid global brands from opening own-brand outlets unless they source a significant portion of the goods from within the country. Apple has been seeking to expand its operations in India for several years, and with Cook’s visit to the country, it is clear that the tech giant sees India as an important growth market and manufacturing base.
India: A Key Market for Apple
During Apple’s latest earnings call, CEO Tim Cook stressed the importance of India as a market and production base. Cook said that Apple had set a quarterly revenue record and grown very strong double digits year over year in India. Despite relatively high sticker prices, India is the world’s second-largest smartphone market and one of the fastest-growing. With the country offering billions of dollars in incentives to attract Apple’s manufacturing partners, India is a hugely exciting market for Apple and a major focus for the company moving forward.
Meeting with Prime Minister Narendra Modi
Apple CEO Tim Cook is set to meet with Prime Minister Narendra Modi during his trip to India next week. Modi’s government has been pushing for electronics manufacturing in the country and has offered billions of dollars in incentives to attract Apple’s manufacturing partners like Foxconn Technology Group and Pegatron Corp. With Cook scheduled to meet with Modi, it is clear that Apple is interested in expanding its manufacturing operations in India.
Conclusion
Apple’s upcoming store openings in India represent a major milestone for the tech giant, which has been seeking to expand its presence in the country for several years. With iPhone sales reaching an all-time high and annual exports from the country now reaching billions of dollars, India is a key growth market and manufacturing base for Apple. With CEO Tim Cook set to meet with Prime Minister Narendra Modi, it is clear that Apple is interested in expanding its manufacturing operations in the country, and the two new stores in Mumbai and New Delhi could be just the beginning of the company’s expansion in India.
