In a highly anticipated move that demonstrates the company’s expanding ambitions to expand in the nation. It also aims to transform into a potential manufacturing hub, Apple has inaugurated its first flagship store in India.
On Tuesday, the company’s CEO Tim Cook posed for pictures with nearly 200 Apple fans. The same had gathered outside the expansive 2,600-square-meter (28,000-square-foot) store in Mumbai, India’s financial capital. The store was inspired by the city’s distinctive black-and-yellow taxis.
On Thursday, a second store will open in the nation’s capital, New Delhi.
In a previous statement, Cook added, “India has such a beautiful culture and an incredible energy, and we’re excited to build on our long history.”
Apple shows the importance of Indian Market:
The IT giant has been conducting business in India for more than 25 years. It has been distributing its products via authorized dealers and a website it recently opened. However, the pandemic and regulatory obstacles prevented it from opening a flagship store as planned.
According to Jayanth Kolla, analyst at the IT consultancy Convergence Catalyst, the new stores are a strong indication of the company’s commitment to investing in India. India is the second-largest smartphone market in the world where iPhone sales have been increasing consistently.
“How much India matters to the present and future of the company,” he continued, is demonstrated by the outlets. The market is especially encouraging for the Cupertino, California-based Corporation because of how large India is.
Apple declared in September that it would begin producing the iPhone 14 in India. The announcement was welcomed as a victory for the government of Prime Minister Narendra Modi. It has pushed for increasing domestic manufacturing ever since he took office in 2014.
Apple started producing in India in 2017 with the release of the iPhone SE and has since continued to do so for a number of different iPhone models.
According to Counterpoint Research, India now produces close to 13 million iPhones annually, up from fewer than five million three years ago. This represents around 6% of all iPhones produced globally, which is a tiny portion when compared to China, which still accounts for 90% of all iPhone production.
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