Apple opened its first flagship store in India, highlighting the company's growing aspirations to expand there
posed for photos with a few of the 100 or so Apple fans who had lined up outside the sprawling 20,000-square-foot store in India’s financial capital, Mumbai, its design inspired by the iconic black-and-yellow cabs unique to the city. A second store will open Thursday in the national capital, New Delhi.
The new stores are a clear signal of the company’s commitment to invest in India, the second-largest smartphone market in the world where iPhone sales have been ticking up steadily, said Jayanth Kolla, analyst at Convergence Catalyst, a tech consultancy. The stores show “how much India matters to the present and the future of the company,” he added.
Between 2020 and 2022, the Silicon Valley company has gained some ground in the smartphone market in the country, going from just about 2% to capturing 6%, according to Counterpoint data.Instead, iPhone sales in the country have thrived among the sliver of upper-middle-class and rich Indians with disposable incomes, a segment of buyers that Shah says is rising. According to Counterpoint data, Apple has captured 65% of the “premium” smartphone market, where prices range up from 30,000 rupees .
People pose outside the new Apple retail store during a media preview on the eve of its opening in Mumbai on April 17, 2023.
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