Apple is set to open its first two stores in India, nearly seven years after Tim Cook’s first visit to the country as CEO. The two stores, called “Apple BKC” and “Apple Saket,” are expected to open in Mumbai on April 18, at 11 a.m. IST and in New Delhi on April 20, at 10 a.m. IST, respectively. This move marks a significant shift in Apple’s corporate strategy as the company aims to reduce its reliance on China and increase its representation in India.
The news of the store openings comes after Apple’s iPhone surpassed competitors in Q4 2022 to become India’s best-selling smartphone, setting an all-time iPhone revenue record in the country. This success is a result of Apple’s emphasis on the Indian market, as Cook noted in a February earnings call.
“India is a hugely exciting market for us and is a major focus,” Cook said. “We brought the online store there in 2020, we will soon bring Apple retail there, so we’re putting a lot of emphasis on the market.”
This new strategy couldn’t come at a better time for Apple, as the company struggles with declining PC shipments, including a 40% decline in Q1 2023, the sharpest decline in over 22 years. This slump has affected other computer makers like HP, Lenovo, and Dell, but has hit Apple the hardest.
Despite these challenges, Apple remains optimistic about its future in India. “We actually did fairly well through Covid in India. And I’m even more bullish now on the other side of it, or hopefully on the other side of it. And that’s the reason why we’re investing there,” Cook said during the earnings call.
Opening physical stores in India is a crucial step for Apple’s growth in the country. In 2020, the company launched its online store in India, which allowed it to reach more customers in the region. However, many Indians still prefer to shop in physical stores, which is why Apple’s move into brick-and-mortar retail is so significant.
The opening of the two stores in Mumbai and New Delhi is just the beginning of Apple’s retail expansion in India. The company reportedly plans to open more stores in other cities in the coming years. This is a clear indication of Apple’s commitment to the Indian market and its goal to become a major player in the region.
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