- Apple’s market is growing continuously in India, once only a few iPhones were sold; Two stores going to start next week
iPhone maker Apple is going to open its first store in India next week. This is considered to be a big step for Apple in the Indian smartphone market. This step has been taken at a time when India’s economy is growing the fastest in the world and people’s income is increasing.
Apple stores opening next week
According to the information given by the company, Apple’s first store is going to open in Mumbai’s commercial zone Bandra Kurla Complex (BKC) on April 18 and the second store will open in Saket, Delhi on April 20.
According to a Bloomberg report, the company’s CEO Tim Cook may come to India to inaugurate these new Apple stores. If this happens, it will be Cook’s visit to India after seven years. Let me tell you, what Cook has said about the Indian smartphone market. They are very bullish.
Apple’s eyes on the Indian market
Apple has a share of about 60 percent in the Indian premium smartphone market. Next is the Korean smartphone company Samsung. India’s economy is the fastest growing in the world. Because of this, the demand for premium phones is also increasing here. For this reason, Apple is trying to increase its market share in India.
Let us tell you, in the financial year 2021-22, Apple’s income from India has increased by 45 percent to $ 4.03 billion. During this period, the company’s profit has also increased by 3 percent to $ 150 million.
Reduce Dependence on China
Most of Apple’s products are currently manufactured in China. Due to the tussle between the US and China, Apple is trying to get out of there and shift its production line to another place. That is why Apple has a special focus on India.