Apple's Retail Expansion: 4 New Stores Set to Open in Major Indian Cities

Apple's Ambitious Retail Expansion

Apple, the world's leading tech giant, has announced dynamic plans to open 4 new stores across major Indian cities: Bengaluru, Pune, Delhi-NCR, and Mumbai. This initiative follows the successful establishment of two stores last year in Mumbai and New Delhi. According to Deirdre O'Brien, Apple's senior vice president of retail, there is palpable excitement about this expansion, although specific opening timelines remain undisclosed.

Boosting Local Production

In a significant move to bolster its presence in the Indian market, Apple has initiated domestic manufacturing of its entire iPhone 16 lineup, including the coveted Pro models. Apple began manufacturing iPhones in India back in 2017 with the SE model, and now the made-in-India iPhone 16 Pro and Pro Max are set to be available for local customers as well as for export.

Strategic Shift to India

This expansion is a part of Apple's broader strategy to diversify its production away from China and harness the growing smartphone demand in India. However, analysts at JP Morgan caution that the pace of this production shift is slower than initially expected, projecting that by 2027, 20-25% of iPhones may be manufactured in India, a downgrade from previous estimates.

Financial Growth in India

Despite the production challenges, Apple's business in India is flourishing. Recent data from Morgan Stanley shows a remarkable 42% year-on-year revenue increase, reaching $8.7 billion in 2023. Additionally, iPhone shipments surged by 39%, totaling 9.2 million units, solidifying India’s position as Apple's fifth-largest smartphone market.