Apple CEO Tim Cook plans to open its first store in India’s financial hub Mumbai on Tuesday.
He will also attend the opening of a second store in the capital Delhi on Thursday.
Until now, Apple products have been available in India online or through a vast network of distributors.
“Can’t wait to welcome customers to our new store in Mumbai,” Cook tweeted on Monday.
Earlier in the day, Apple gave several bloggers and analysts a preview of a store in the city’s posh neighborhood. The design of the store is inspired by the black and yellow taxis commonly found in Mumbai.
Hundreds of people are reportedly expected to attend the main launch event on Tuesday.
The new store comes at a time when Apple is looking to ramp up retail in India, the world’s second largest smartphone market. In the price-sensitive Indian market, where more than 95% of smartphones run on Android platform of Google, the iPhone is still an emerging product.
India is also emerging as an iPhone manufacturing hub as Apple diversifies its supply chain away from China. India now accounts for 5% of total iPhone production.
However, experts say the store represents an important branding strategy but will not have an immediate impact on its Apple sales in India. But others point out that it’s a good time for Apple to invest in India’s growing ‘premium smartphone’ market.
“Opening an Apple Store is basically about offering premium customers a premium experience. Sales may not be growing, but it’s definitely attracting more people to the Apple ecosystem,” technology analyst Navkendar Singh told the BBC.
Apple has long aimed to open a physical store in India. Its original plans for 2021 have been derailed due to the Covid-19 pandemic.
It will be Cook’s first visit to India in seven years, and the last time the Apple CEO visited India was in 2016.
On Monday, he shared a photo of himself eating vada pav, a popular Indian snack, with Bollywood actress Madhuri Dixit. Cook will also reportedly meet with Prime Minister Narendra Modi and deputy IT minister Rajeev Chandrasekhar as part of the visit. There was no official statement from Modi’s office in this regard.
History of Apple
Apple Inc. is an American multinational technology company headquartered in Cupertino, California. Apple is the world’s largest technology company by revenue, with revenue of $394.3 billion in 2022. As of March 2023, Apple is the world’s largest company by market capitalization. As of June 2022, Apple is the fourth largest PC vendor by unit sales, and the second largest mobile phone maker. It is one of America’s Big Five information technology companies, along with Alphabet Inc. (Google’s parent company), Amazon, Meta Platforms (formerly Facebook Inc.), and Microsoft.
Apple was founded as the Apple Computer Company on April 1, 1976 by Steve Wozniak, Steve Jobs, and Ronald Wayne to develop and sell Wozniak’s Apple I personal computer. Apple Computer was founded in 1977 by Jobs and Wozniak. The company’s second computer, the Apple II, became a bestseller and one of the first mass-produced microcomputers. Apple went public in 1980s and quickly became a financial success. The company has developed a computer with an innovative graphical user interface. Among them was his first Macintosh, introduced in 1984, the year he unveiled a highly acclaimed advertisement. By 1985, high product costs and infighting among executives were causing problems. Wozniak amicably resigned from Apple to pursue other ventures, while Jobs resigned violently and took Apple employees to found NeXT.