| What happened: Apple is setting its sights on India after posting record revenue and double-digit growth in the country in the last three months of 2022. Details: Apple is opening its first two stores in India next week, setting a retail foothold in the country after seeing its market share grow there. It's also shuffling management to place a greater emphasis on India, which now has its own sales region. What the numbers say: Apple shipped an estimated 6 million smartphones to India in 2022, an 11% jump from 2021. Apple's market share in the country was 5.5% last year versus 4.4% the year before. In the long term, the percentage of smartphone users in India is projected to grow from 54% in 2020 to 96% in 2040. Quotable: During a February earnings call, CEO Tim Cook said Apple is "taking what we learned in China years ago and how we scaled China and bringing that to bear" in India, adding that he is "very bullish" on the country.
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