24/7 Space News
INTERNET SPACE
Apple opens first India store in market push
Apple opens first India store in market push
by AFP Staff Writers
Mumbai (AFP) April 18, 2023

Apple opened its first retail store in India on Tuesday, underscoring the US tech titan's increasing focus on the South Asian nation as a key sales market and alternative manufacturing hub to China.

Apple CEO Tim Cook personally opened the doors to welcome customers as staff cheered.

Hundreds of admirers of the iPhone giant queued around the store in a swanky shopping mall in the financial capital Mumbai, some of them waiting overnight.

The California-based firm is betting big on the nation of 1.4 billion people -- home to the second-highest number of smartphone users in the world, after China -- with a second store to open in the capital Delhi on Thursday.

The world's biggest company in terms of market value is also expanding its manufacturing footprint in India as it seeks to diversify its supply chain away from a heavy dependence on neighbouring China.

Apple called the stores a "major expansion" of its presence in India in a statement on Monday.

"We're excited to build on our longstanding history," Cook said in the statement.

Apple launched its online store in India in 2020, but had not opened an official physical shop until now due to previous investment rules, since relaxed, requiring foreign retailers to source 30 percent of raw materials locally, and pandemic delays.

Sales and marketing executive Purav Mehta, 30, camped overnight outside the store ahead of the opening, bringing with him his still-unopened 2013 iPod Touch.

"We've been looking forward to it... for a long time we've been waiting for this," he told AFP.

Stationery dealer Madhav Mimani, 27, travelled about 900 kilometres (560 miles) from Rajasthan for the event.

"I think with Apple manufacturing in India, the prices are going to go down because it's local manufacturing, which makes the iPhones affordable," he said.

"It also increases chances of the Indians buying iPhones made in India because of the sentimental value."

India has more than 600 million smartphone users, with Android devices dominating the price-sensitive market.

Chinese smartphone makers Xiaomi, vivo, OPPO and realme had a combined market share of 66 percent in 2022, according to research firm Canalys, while Samsung held a 19 percent share.

Apple's iPhones compete in the premium segment of the market and had just a four percent share last year.

But Canalys analyst Sanyam Chaurasia told AFP that Apple could benefit from the premiumisation of India's smartphone market and financing schemes for both retailers and consumers.

"Apple is emphasising more on the Indian market because they see more opportunity," he said.

- Supply chain -

Cook said in a February earnings call that "India is a hugely exciting market for us and is a major focus".

"We are, in essence, taking what we learned in China years ago and how we scale... and bringing that to bear.

Apple was "putting a significant amount of energy" into India, he added, saying he was "very bullish" on the country.

India is also becoming central to Apple's plans to shift its production of devices and components away from China amid diplomatic tensions between Washington and Beijing and the supply chain fallout from strict Covid policies.

Just one percent of Apple's iPhones were made in India in 2021, but that jumped to seven percent last year, Bloomberg News reported last week, citing sources.

The company began manufacturing iPhones in India in 2017 through Taiwanese suppliers Foxconn, Wistron and Pegatron.

Foxconn said in March that its chairman had visited India but there was no "definitive agreement" for investments in the country after the chief minister of Karnataka in the south said iPhones would be manufactured in his state.

grk/slb/cwl

APPLE INC.

PEGATRON

SAMSUNG ELECTRONICS

HON HAI PRECISION INDUSTRY (FOXCONN)

WISTRON

Related Links
Satellite-based Internet technologies

Subscribe Free To Our Daily Newsletters
Tweet

RELATED CONTENT
The following news reports may link to other Space Media Network websites.
INTERNET SPACE
Global PC shipments plunge 29% in rough economy
San Francisco (AFP) April 10, 2023
Shipments of Apple Macs plunged during the first quarter of this year as the global personal computer market suffered due to tough economic conditions, market research reports said on Monday. Weak demand, excess inventory, and a worsening macroeconomic climate contributed to a "precipitous drop in shipments of traditional PCs" in the first three months of this year, according to the report from IDC. PC shipments globally tallied 56.9 million, some 29 percent less than the same period a year earl ... read more

INTERNET SPACE
Rocket Lab launches new constellation-class star tracker

Humans need Earth-like ecosystem for deep-space living

Russia will use International Space Station 'until 2028'

NASA Boosts Open Science through Innovative Training

INTERNET SPACE
Rocket Lab introduces suborbital testbed rocket, selected for hypersonic test flights

SpaceX to make second bid to launch Starship on test flight

SpaceX reschedules Starship test flight for Thursday

Southern Launch to partner with Koonibba aboriginal community to develop spaceport

INTERNET SPACE
Ingenuity Mars Helicopter completes 50th flight

Slip and Pivot: Sol 3797

NASA unveils 'Mars' habitat for year-long experiments on Earth

Curiosity software upgrade complete: Sol 3796

INTERNET SPACE
Shenzhou XV mission crew members set China record

Spacewalks become 'routine' after 12th mission

Rocket that will carry Tianzhou ship to space arrives at launch center

China and Brazil to expand cooperation in space development

INTERNET SPACE
Nova Space to offer Space Professional Development Program for AWS Employees

Virgin Orbit bankruptcy: why the UK's spaceport industry may still have a bright future

Inside the "space factory"

'The Space Economy' - an Essential Guide for Investors and Entrepreneurs

INTERNET SPACE
Data can now be processed at the speed of light

General Atomics completes commissioning of space environmental testing chambers

NASA satellite's elusive green lasers spotted at work

SwRI joins new NASA institute to qualify, certify additive manufacturing methods

INTERNET SPACE
International team discover new exoplanet partly using direct imaging

Webb peeks into the birthplaces of exoplanets

HD 169142 b, the third protoplanet confirmed to date

Do Earth-like exoplanets have magnetic fields

INTERNET SPACE
Icy Moonquakes: Surface Shaking Could Trigger Landslides

Europe's Jupiter probe launched

Europe's JUICE mission blasts off towards Jupiter's icy moons

Spotlight on Ganymede, Juice's primary target

Subscribe Free To Our Daily Newsletters




The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.