Tim Cook plans to double down on India as Apple’s next big market
1 year, 11 months ago

Tim Cook plans to double down on India as Apple’s next big market

Live Mint  

Apple is set to make a direct retail entry into the Indian market by opening its first store in Mumbai on April 18, followed by another store in New Delhi two days later. Previously, the Indian market was primarily catered to through resellers, but Apple's move to establish a direct retail presence highlights the importance of India in its China-plus one strategy. During an investor call in February, Apple's CEO Tim Cook noted that the company is leveraging its experiences in China to enhance its operations in India. According to Luca Maestri, the senior vice president and chief financial officer of Apple, the company experienced robust growth in several emerging markets, including India and Vietnam, both of which achieved all-time high iPhone revenue records. This move would not only reduce Apple's dependence on China for its production needs but would also serve to bolster India's position as a vital manufacturing hub for the company.

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