Apple Inc. opened its first flagship store in India in a much-anticipated launch Tuesday
NEW DELHI — that highlights the company’s growing aspirations to expand in the country it also hopes to turn into a potential manufacturing hub.
The tech giant has been operating in India for more than 25 years, selling its product through authorized retailers and the website it launched a few years ago. But regulatory hurdles and the pandemic delayed its plans to open a flagship store. About 600 million of India’s 1.4 billion people have smartphones, “which means the market is still under-penetrated and the growth prospect is huge,” said Neil Shah, vice president of research at technology market research firm Counterpoint Research.
Apple first began manufacturing from India in 2017 with its iPhone SE and has since continued to assemble a number of iPhone models from the country. Currently, India makes close to 13 million iPhones every year, up from less than 5 million three years ago, according to Counterpoint Research. This is about 6% of iPhones made globally — and only a small slice in comparison to China, which still produces around 90% of them.
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