Two decades after entering India, Apple is preparing to launch its first set of retail stores in the populous South Asian nation, signaling the tech giant’s growing interest in the market.
Apple said on Tuesday that it plans to open Apple BKC in Mumbai on April 18 and Apple Saket in Delhi on April 20. The iPhone maker’s first retail stores in India have been long-awaited, but the limited market for high-end smartphones and laptops in the country has dampened Apple’s expansion efforts.
Despite being the second largest internet marketplace in the world, most of the smartphones sold in India are priced below $250. While India accounts for a small portion of Apple’s overall revenue, the iPhone maker has expressed optimism about the nation’s growth potential.
Apple said the new retail locations “mark a significant expansion in India that will offer great new ways to browse, discover and buy Apple products with exceptional customer service and experiences.”
In preparation for store openings, Apple has been actively recruiting employees in recent months, based on increasing job openings. The company, which launched its Indian online store in 2020, had initially planned to open its first retail store in 2021, but the COVID-19 pandemic forced a delay.
Apple is also working to make India a key global hardware manufacturing hub, thanks in part to the incentives New Delhi offers manufacturers to expand their presence in the country.
The company’s contract manufacturing partners Foxconn and Wistron have increased local assembly of iPhones and other Apple devices in recent quarters. According to a report by JP Morgan analysts last year, Apple is expected to expand its manufacturing capacity in India to produce 25% of all iPhones by 2025.
