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Apple is on a race to catch Indian market's premium share (Pic: Twitter)
Apple CEO Tim Cook has confirmed recent media reports that four more Apple Stores will be opened in India taking the total to six. Speculations suggest that one of these could be in Bangalore.
Apple currently operates two stores in India, located in BKC Mumbai and DLF Saket in New Delhi. During Apple’s latest earnings call, Mr Cook expressed enthusiasm about the new stores, stating, "We also opened two new stores during the quarter, and we can't wait to bring four new stores to customers in India."
The company's success in India is particularly noteworthy, with Mr Cook revealing that iPhone sales surged globally, achieving new records across all regions. Apple reached its highest-ever revenue in India, contributing to a remarkable September quarter performance. He mentioned, "The iPhone grew in every geographic segment, marking a new September quarter revenue record for the category."
Furthermore, Apple’s services segment also flourished, with a 12% year-on-year increase, while iPad revenues rose to $7 billion, up 8% from last year. Luca Maestri, Apple’s CFO, noted strong growth in emerging markets, including India, where enthusiasm for Apple products continues to build.
While Mr Cook has confirmed the opening of four new stores, their specific locations remain under wraps. However, speculation suggests that these new stores could be in Bengaluru, Pune, and the Delhi-NCR area, along with another in Mumbai. If these reports hold true, it would mean that both Delhi and Mumbai could soon have two official Apple Stores each.
In a race with rivals
Currently, Apple holds a 22% share of India’s smartphone market, trailing only Samsung. The recent launches of the iPhone 15 and iPhone 16, timed with the festive season, have likely bolstered Apple’s position further. Globally, Apple reported $94.9 billion in revenue for the September quarter, marking a 6% increase year-on-year, with iPhone revenue also rising by 6%.
Looking ahead, Apple anticipates single-digit growth, driven by the gradual rollout of new AI features across its product lineup.
