Tim Cook Inaugurates India's First Apple Store In Mumbai
Apple opened its first store in India on Tuesday, where about 300 people gathered to see CEO Tim Cook. Along with?Deirdre O'Brien, Apple's senior vice president?of?Retail?+?People, Cook inaugurated the first retail store run by the company in the country.
"The energy, creativity, and passion in Mumbai is incredible!" Tim Cook wrote on Twitter. "We are so excited to open... our first store in India."
Apple's India ambitions
The Apple BKC store in Mumbai is situated in Reliance-owned Jio World Drive. But that's not all - a second store is set to open in New Delhi's Select City Walk mall on Thursday. During the same trip, Cook is expected to meet Indian Prime Minister Narendra Modi.
Currently, Apple is looking at ways to expand its manufacturing footprint in India, with some iPhones being assembled in the country by Taiwanese contractors Foxconn and Wistron, Reuters reported. In the near-future, iPads and AirPods could be assembled in India.
Also read:?Apple's Big Bet On India: Tim Cook To Meet PM Modi As First Apple Stores Open
While Apple is the world's second-biggest smartphone maker (only behind Samsung), it only has a 6% market share in India, largely attributable to its high prices. According to Counterpoint Research, about 19% of all smartphones are now produced in India (in 2023), compared to 9% in 2016.
India and Vietnam are among the top two alternatives to China for companies that are looking to diversify their manufacturing capabilities. Until restrictions were eased in 2019, foreign retailers were required to source at least 30% of raw materials locally in India. All Apple sales in India were, till now, made through third-party sellers or online.
Also read:?Apple's Next Move: Leaked Dummy Unit Reveals Exciting Changes For iPhone 15 Pro
Even the Apple online store launched in India recently (in 2020), allowing customers to buy iPhones directly from the website and also allowing customisations for many devices.
Apple's interest in India is expected to grow. Last year, the number of iPhones made and shipped from India rose by 65% compared to the previous year, according to Counterpoint data.
What do you think about Apple's pivot to India? Let us know in the comments below.?For more in the world of?technology?and?science, keep reading?Indiatimes.com.
