Apple is set to open its first physical stores in India next week, with a store in Mumbai opening on Apr. 18 and another in the Indian capital Delhi on Apr. 20. The move highlights the country’s importance to the U.S. tech firm’s future in iPhone sales and manufacturing.
According to Bloomberg, Apple CEO Tim Cook may travel to India to open the stores, reflecting the company’s bullishness towards the world’s fifth-largest economy. The move comes as Apple is looking to boost retail sales of its products and its manufacturing activity locally.
Apple has been making inroads into the Indian market, which has been dominated by low-to-mid-cost smartphones from companies such as Samsung and Xiaomi. In 2022, iPhone shipments grew 16% year-on-year, and Apple was the number one player in the premium segment of the market, which are phones above $365, according to Counterpoint Research.
While Apple is only now looking to open its first physical retail location in India, the company has had an online store there since 2020. Cook has expressed his bullishness on India, saying during a February earnings call that he is “very bullish” on the country, and Apple is “putting a significant amount of energy” into the Indian market.
Apple’s manufacturing push in India comes as the company is looking to reduce its reliance on China, where it currently makes the bulk of its iPhones. The company began assembling its flagship iPhone 14 in India last year, and India’s minister of commerce and industry said in January that Apple is aiming to make 25% of all of its iPhones in India.
The move to expand manufacturing in India also reflects concerns over fragilities in China, where production was disrupted by a COVID-19 outbreak and worker protests at the world’s largest iPhone factory in Zhengzhou, China, which is run by Taiwanese firm Foxconn.
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