#Apple store india tv
They can see the opportunity here today - it's a win-win situation," Shah said.In its stores, Apple sells various Apple products, including Mac personal computers, iPhone smartphones, iPad tablet computers, Apple Watch smartwatches, Apple TV digital media players, software, and both Apple-branded and selected third-party accessories.Īpple CEO Tim Cook on Tuesday opened the first retail store in India at Mumbai’s BKC.
#Apple store india full
They don't enter a market with full flow until they feel confident about their prospects. Still, he's optimistic this target could be met, especially with labor costs being lower in India and the government wooing companies with attractive subsidies to boost local manufacturing. The challenge for Apple, according to Shah of Counterpoint, is that the raw materials are still coming from outside India so the tech company will need to either find a local supplier or bring their suppliers, based in countries like China, Japan and Taiwan, closer to drive up production. Last week, India's Commerce Minister Piyush Goyal said the government was in regular touch with Apple to support their business here and that the company had plans to have 25% of their global production come out of India in the next five years. This is about 6% of iPhones made globally - and only a small slice in comparison to China, which still produces around 90% of them. "Big companies got a jolt, they realized they needed a backup strategy outside of China - they couldn't risk another lockdown or any geopolitical rift affecting their business," said Kolla.Ĭurrently, India makes close to 13 million iPhones every year, up from less than 5 million three years ago, according to Counterpoint Research. Most of Apple's smartphones and tablets are assembled by contractors with factories in China, but the company started looking at potentially moving some production to Southeast Asia or other places after repeated shutdowns to fight COVID-19 disrupted its global flow of products. The news was hailed as a win for Prime Minister Narendra Modi's government, which has pushed for ramping up local manufacturing ever since he came to power in 2014.Īpple first began manufacturing from India in 2017 with its iPhone SE and has since continued to assemble a number of iPhone models from the country.
In September, Apple announced it would start making its iPhone 14 in India. According to Counterpoint data, Apple has captured 65% of the "premium" smartphone market, where prices range up from 30,000 rupees ($360). Instead, iPhone sales in the country have thrived among the sliver of upper-middle-class and rich Indians with disposable incomes, a segment of buyers that Shah says is rising. Still, the iPhone's hefty price tag puts it out of reach for the majority of Indians.
The stores show "how much India matters to the present and the future of the company," he added.įor the Cupertino, California-based company, India's sheer size makes the market especially encouraging.Ībout 600 million of India's 1.4 billion people have smartphones, "which means the market is still under-penetrated and the growth prospect is huge," said Neil Shah, vice president of research at technology market research firm Counterpoint Research.īetween 20, the Silicon Valley company has gained some ground in the smartphone market in the country, going from just about 2% to capturing 6%, according to Counterpoint data. The new stores are a clear signal of the company's commitment to invest in India, the second-largest smartphone market in the world where iPhone sales have been ticking up steadily, said Jayanth Kolla, analyst at Convergence Catalyst, a tech consultancy. flagship store in Mumbai, India, April 18, 2023. Apple CEO Tim Cook, right, reacts after seeing an old old Macintosh Classic machine brought by a visitor during the opening of the first Apple Inc.
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