25 years of Apple in India: Excited to build upon Apple's long history in India, says CEO Tim Cook
25 years of Apple in India: Excited to build upon Apple's long history in India, says CEO Tim Cook
2023 is a special year for Apple and its operations in India. Not only is the global tech giant all poised to inaugurate its first official retail store in the country, the Cupertino-based tech giant has also completed 25 years of doing business in India through various retail and reseller partners.
Speaking to the press a day before the inauguration of its first official retail store in India, Apple BKC, at the Jio World Drive, Bandra Kurla Complex, Mumbai, Tim Cook addressed the press about Apple’s plans in India, and why India continues to be an important strategic partner for Apple, vis-a-vis Asia, as well as the rest of the world.
“At Apple, our mission is to enrich lives and empower people around the world,” said Apple CEO Tim Cook. “India has such a beautiful culture and an incredible energy, and we’re excited to build on our long-standing history — supporting our customers, investing in local communities, and working together to build a better future with innovations that serve humanity.”
Apple’s first two retail outlets in India will open this week first in Mumbai on April 18 and then in Delhi on 20 April.
CEO Tim Cook also went into detail how India has been a vital for Apple, especially in the last few years, more than people realise.
Apple’s App developers in India
According to the corporation, India’s thriving app development community currently supports more than 1 million employees. In the country, app store royalties to developers are estimated to have more than quadrupled since 2018.
Apple works one-on-one with developers at the iOS App Design and Development Accelerator in Bengaluru to help them improve their apps.
Also read: Apple to shake up international management with a renewed focus on India
Apple’s Make in India Campaign
Apple began producing iPhones in India in 2017, and the corporation has since collaborated with vendors to assemble iPhone models and create an increasing number of components. In India, Apple’s associate suppliers include Foxconn, Wistron, and Pegatron, which manufacture iPhone 14 and earlier versions.
Although India now supplies just 5 per cent of the world’s iPhones, if sources are to be accepted, Apple plans to increase this figure to 25 per cent by 2025 and 50 per cent by 2027.
According to trade and industry data, Apple’s iPhone exports surpassed $5 billion in FY23, nearly quadrupling year on year. The firm claims to have worked with Indian suppliers of various sizes and to be responsible for hundreds of thousands of employment in India.
People’s Aspiring to Apple’s Products
Apple officials have stated multiple times in recent quarters that they are seeing record revenue growth in terms of iPhone sales in India, with a significant double-digit increase every quarter.
During the company’s earnings conference call in February 2023, Apple CEO Tim Cook noted that India is a “hugely exciting market” for the Cupertino tech giant, and the iPhone manufacturer is placing a lot of emphasis on the world’s second-largest mobile phone market.
Apple has also seen “record levels” of individuals migrating to iPhone in the nation, according to Cook.
According to market research company Counterpoint Research, Apple is now the leader in India’s premium smartphone market (above Rs 30,000) and the country’s smartphone industry in terms of shipment value in Q4 2022. According to the company, it shipped over 6.5 million units in 2022, representing a 16 per cent increase year on year.
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