Apple is preparing to open a duo of physical retail stores in India this week, another sign of the growing importance of the South Asian country to the tech giant. CEO Tim Cook He is expected to preside over the opening of Apple’s inaugural retail store in the financial capital, Mumbai, on Tuesday. A second location opens in the Indian capital, New Delhi, on April 20. Cook previously spoke about Apple’s view of Indiasaying he is a “big believer” in the opportunities the country offers.
The opening of Apple’s first brick-and-mortar store in India is part of the company’s broader retail campaign in the country, where its market share is relatively small compared to the size of the country. About 620 million of India’s 1.4 billion people own a smartphone, making the country one of the largest phone markets in the world, as well as one of the greatest growth opportunities, according to Counterpoint research director Tarun Pathak.
“Apple has an opportunity to target sales of tens of millions of smartphones each year from the current 6 million units,” Pathak told CNET. In comparison, Apple sells more than 50 million units annually in markets like China and the USA.
Hi, Mumbai
Apple previewed its Mumbai store location this week ahead of its official opening. Flagship store known as BKC apples, 22,000 Square Feet in an upmarket shopping mall in Bandra Kurla Complex. The design of the store is inspired by Mumbai’s iconography Cali Bailey Taxis (in black and white) are among Apple’s most sustainable locations, the company says. It’s split over two levels, along with the tree-lined ground level that features Apple’s signature products.
Apple emphasizes the Mumbai store’s focus on sustainability.
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“At Apple, our customers are at the heart of everything we do, and our teams are excited to celebrate this amazing moment with them as we open our first retail store in India,” said Deirdre O’Brien, Apple’s senior vice president of Retail. .
Prior to this, shoppers in India were restricted to purchasing Apple products from “Apple Premium Resellers” or third-party retailers, who had to obtain a license from Apple to sell the devices. Customers also shop at Apple’s official online store, which opened in September 2020.
Apple says its retail staff is ready to help customers learn about Apple products, different payment methods and how to switch to iOS.
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“Indian consumers buy their iPhones from many retail and e-mail outlets and will likely continue to do so, but an Apple Store in two of its largest cities in India will also give customers a chance to experience the Apple brand, not just the products.” Kiranjeet Kaur, associate director of research at IDC, told CNET in an email.
“Buying a premium phone requires more touch and feel, and consumers prefer buying expensive phones from locations they can trust,” said Neil Shah, Vice President of Research and Counterpoint. “So far, Apple has had different franchises that may or may not offer the same high-touch service, purchase and post-purchase experience.”
Made in India
Double retail stores are opening up as Apple increasingly looks beyond China as a manufacturing base for countries like India. Last year, Foxconn, one of Apple’s largest iPhone suppliers, was forced to temporarily halt operations at its main iPhone City complex in Zhengzhou, China, following a citywide lockdown due to the COVID-19 outbreak.
Ming-Chi Kuo, a longtime Apple analyst, he wrote in a Twitter post More than 10% of global iPhone production capacity has been affected by the situation at the Zhengzhou campus. Foxconn makes an estimated 70% of Apple’s iPhones, according to Reuters.
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The latest survey and commentary on the impact of COVID-19 lockdown on Foxconn Zhengzhou iPhone factories
– 郭明錤 (Ming-Chi Kuo) (mingchikuo) October 30, 2022
At the same time, India has introduced incentives to boost domestic manufacturing. According to the April report by bloombergApple has tripled its iPhone production in India to $7 billion in 2022, accounting for 7% of total iPhone production. That’s a jump from 1% in 2021. This growth is the result of partnerships with Taiwanese suppliers Foxconn and Pegatron.
“For consumers outside India, the benefits to a diversified supply chain are relatively opaque until there is a shock to the supply chain — a political, pandemic or disruptive weather event,” said Avi Greengart, an analyst at Techsponential. “Until then they won’t even notice there’s a problem — and that’s the whole point. Instead of dealing with shipping delays, limited variety, sky-high prices, or all three, they’ll be able to shop as usual and buy the iPhone they want.”
Apple still relies heavily on China for the majority of its iPhone production, but Pegatron is said to be planning to ramp up production in India, as it looks to open a second factory in the region. Meanwhile, Foxconn is reported to be planning to invest about $700 million in a factory in a southern state to make phone components and possibly iPhones. Analysts say Apple could start manufacturing the next generation iPhone in India.
“I wouldn’t be surprised if Apple did that [manufacture the iPhone 15 in India]. Kaur said that Apple started manufacturing iPhone 14 models (with the exception of the Pro series) in India shortly after their launch and was exporting these models to markets such as the United States, Europe and the Middle East. “Currently India has a very small share of iPhone manufacturing (<5%) but we expect this to grow not only to account for domestic consumption but also for exports.”
Apple already makes the iPhone 14 in India, which is being assembled at the Foxconn factory on the outskirts of the southern city of Chennai. The tech giant has been making iPhones in India since 2017, but these models tend to be older.
Invitation to Apple to open its retail store in Mumbai.
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For all the promise India holds, it does not come without difficulties. The South Asian country is not known for the ease of doing business, with a well-documented penchant for red tape and sudden changes in regulations. Apple may also have to pay high import duties for components, among other supplies it needs.
However, the lure of India is proving too strong. The opening of Apple Stores in India had been rumored since 2021 before being pushed back to this year. Apple opened its first store in Asia in Tokyo in 2003.
“620 million smartphone users in India are buying their third or fourth smartphone,” Shah said. “As a result, given the increasing reliance on smartphones for everything, people are choosing better and more affordable phones.”
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