Apple Opens Its First Store In India As It Taps Into a New Generation

Apple opens its first store in India as it taps into a new generation of iPhone users.

The iPhone maker opened its first store in India on Tuesday, underscoring the market's importance to its future. Apple is betting on India as a market and manufacturing base. 

The opening of Apple's first physical store in Mumbai is a significant development for the company and will likely have a positive impact on its presence in India. Apple will open another store in Delhi on Thursday.

Apple aims to expand iPhone sales and manufacturing in India in a move analysts say is similar to its strategy when it first entered China, now the company's biggest market. is one of the markets. 

Apple claims that its Mumbai store is one of the "most energy efficient" locations in the world and has a dedicated solar power system and no reliance on fossil fuels for the store's operations. do not have.

However, India's smartphone market has a strong competition with Samsung and Xiaomi  mobiles in recent years with low- to mid-range price devices that appeal to consumers in a price-sensitive market. Apple has a very little market share in India.

But according to Neil Shah, partner at Counterpoint Research, India is going through a "premiumisation of the market". According to Shah, smartphones priced above $400 now account for 10 percent of total handset volume, up from 4 percent before the pandemic. 

India has a growing middle class, a young and "mobile-first" population willing to pay more for phones, especially in Mumbai and Delhi, two of the country's richest cities and the location of Apple's new stores. .

iPhone sales in Main focus

Analysts said Apple presence in India push an opportunity for the American technology giant to grow revenue and the sales of apple iPhone more closer to the maximum levels seen in markets like the US and China.

Apple shipped around 6.5 million iPhones in India. in 2022, compared to about 50 million per year in both the U.S. and China, according to Counterpoint Research. Also India "has the potential to reach this scale" in the coming years, Neil Shah said.

Bloomberg reported on Monday, citing a person familiar with the matter, that Apple earned $6 billion in revenue in the year to March, a 50 percent increase. Wedbush Securities analyst Dan Ives said that could increase further in the next two years.

But it's not just about selling iPhones. This new store opening is expected to increase Apple's presence in India, which is one of the world's largest smartphone markets. The company has been trying to increase its market share in India, 

This store will offer a range of Apple products and services, including the latest iPhones, Macs, and iPads. The store will also feature a Genius Bar where customers can receive technical support and get advice on their Apple devices.

For Apple, India also Plays a vital role in manufacturing strategy for the future. Seb has started assembling its flagship iPhone 14 in India. Piyush Goyal, India's commerce and industry minister, said in anuary that Apple aims to make 25 percent of all its iPhones in India.

Production was disrupted last year at Apple's largest iPhone factory, located in Zhengzhou, China, due to the Covid outbreak and worker protests. The factory is run by Taiwanese company Foxconn.

Overall, the opening of Apple's first physical store in India is a significant development for the company, and it will be interesting to see how it impacts Apple's market share in the country going forward. It will be interesting to see how this move affects Apple's market share in the country going forward.