Apple CEO Tim Cook reaffirmed the company's commitment to growth and investment in India during a meeting with Prime Minister Narendra Modi on Wednesday.
Cook also attended the opening of Apple's first retail store in India in Mumbai on Tuesday.
- Cook inaugurated the store in the country's financial hub on Tuesday and greeted customers as they entered.
- The CEO plans to attend the opening of Apple's second India store in the capital of Delhi on Thursday.
- The brick-and-mortar openings coincide with Apple's 25th year of operating in India, Cook noted.
- During
his meeting with Modi, Cook reportedly affirmed Apple's technology
transformation and likely its retail and manufacturing push into India.
- The country now accounts for 5% of all iPhone production as Apple diversifies its supply chain away from China.
- Apple may also be getting in early to invest in India's burgeoning market for premium smartphones.
- In India, most smartphones sold are under $250, but Apple saw an 18% increase in Indian iPhone sales during Q4 2022 over the previous quarter.
