Apple opens first India store in market push

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Apple CEO Tim Cook personally welcomed customers to the opening of the company’s first physical store in Mumbai, India. Hundreds of admirers of the tech giant waited in line overnight to enter the swanky shopping mall where the store is located. Apple is expanding its presence in India with a second store set to open in the capital, Delhi. The company is also expanding its manufacturing operations in India to diversify its supply chain and reduce its reliance on China.

The opening of the physical store marks a significant expansion of Apple’s presence in India. The company launched its online store in India in 2020 but had not been able to open a physical store until now due to previous investment rules that required foreign retailers to source 30% of raw materials locally, and pandemic delays. The move is also part of Apple’s strategy to shift its production of devices and components away from China amid diplomatic tensions between Washington and Beijing.

Apple’s expansion into India has been driven by the country’s huge potential market of 1.4 billion people, home to the second-highest number of smartphone users in the world, after China. While Android devices dominate the price-sensitive market, Apple is betting on the premium segment of the market, which could benefit from financing schemes for both retailers and consumers. Apple’s iPhones had just a 4% market share in India last year, but the company is hoping to increase this with local manufacturing, which makes the iPhone more affordable.


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