Next week, Apple Inc. Chief Executive Officer Tim Cook will visit to India to open the first Apple stores there, underscoring the company’s ambitions for India as a growing market and manufacturing hub.
Those with knowledge of the situation who asked to remain anonymous because they were discussing private arrangements said Mr. Cook is likely to preside over the opening of the twin shops in India’s financial and political capital. Apple announced on Tuesday that two new locations will open in India on April 18 and April 20, respectively.
The trip, which takes place seven years after the CEO’s first visit in 2016, coincides with significant milestones being reached by the most valuable corporation in the world, including record-breaking iPhone sales in India and record-high annual iPhone exports from the nation.
In Mumbai’s Bandra Kurla Complex, or BKC as the neighborhood is known, Mr Cook plans to open Apple’s first store in India in a posh mall. A few days later, he plans to open the doors to the New Delhi store, which is located in an upscale mall in the Saket district. On Tuesday, the barriers around that store were removed.
The two locations have been in the works for a while because of India’s severe restrictions, which prohibit international businesses from operating own-brand stores unless they source a sizable percentage of their products domestically.
An email requesting remarks on Mr. Cook’s visit received no immediate response from Apple.
In 2020, the company opened its first online store in India. The nation is the second-largest smartphone market in the world and one of the fastest-growing, but in the 1.4 billion-person country where affordability plays a significant factor in buying decisions, Apple’s comparatively high sticker prices are still a disincentive.
According to one of the people, Apple has requested that Mr. Cook meet with Prime Minister Narendra Modi between the openings of the two stores.
The government of PM Modi has promoted electronics production and provided incentives worth billions of dollars to entice companies like Foxconn Technology Group and Pegatron Corp., two of Apple’s manufacturing partners.
Mr. Cook has emphasised the significance of India as a market and industrial hub during Apple earnings calls. At the most recent conference, Mr. Cook stated that Apple in the nation “reached a quarterly revenue record and increased very strong double digits year over year.”
On the call, Mr. Cook stated, “India is a highly exciting market for us and a significant emphasis.” “I have high hopes for India.”
Also Read: OnePlus 11: Top variant with innovative features to launch in India, specs and all other details here
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER
