Tech giant Apple has been seeing strong growth in the Indian market in recent years. Its products, including iPhones and watches, are seeing good traction here. However, Apple products so far were only available through stores of resellers and other consumer durables retailers. Now, that is set to change with the Cupertino, California-based company rolling out its first-ever retail stores in the country.
Apple will open its first retail store in Mumbai's business district of Bandra Kurla Complex on Tuesday (April 18). This will be quickly followed by a store in Saket, New Delhi on Thursday (April 20). The Mumbai store is spread over two levels and 20,000 square feet and will offer all Apple products, accessories and services under one roof. The store will have over 100 team members.
This is Apple's 25th year in India. However, it only began manufacturing iPhones here in 2017. Currently, it manufactures phones ranging from the iPhone SE to the latest iPhone 14 through its partners - Foxconn, Wistron and Pegatron.
It opened its online store in India in 2020. The opening of its two physical retail stores this week will mark the next leg of its journey here.
"India has such a beautiful culture and an incredible energy, and we're excited to build on our long-standing history - supporting our customers, investing in local communities, and working together to build a better future with innovations that serve humanity," Tim Cook, Apple's CEO said in a statement.
Apple employs around 2,500 team members across its corporate offices in India and it also supports over 1 million jobs with the thriving iOS app economy, suppliers, offices and retail stores, said Deirdre O'Brien, Apple's senior vice-president of retail.
"At Apple, our customers are at the centre of everything we do, and our teams are excited to celebrate this wonderful moment with them as we open our first retail store in India. Apple BKC is a reflection of Mumbai's vibrant culture and brings together the best of Apple in a beautiful, welcoming space for connection and community," said O'Brien.
Apple's Mumbai BKC store is running on 100 per cent renewable energy and has been designed to be one of the most energy-efficient Apple store locations in the world, according to the company.
As a part of the launch, Apple BKC will offer a special Today at Apple series, "Mumbai Rising," which will run from the opening day through the summer. These free sessions featuring Apple products and services will bring visitors, local artists and creatives together and offer hands-on activities.
India's smartphone shipments declined 9 per cent in 2022 to 152 million units, according to Counterpoint Research. Apple continued to lead in the premium smartphone segment (in the above Rs 30,000 and Rs 45,000 segments) in the country. It grew 16 per cent year-on-year in 2022, with the iPhone 13 emerging as the top-selling model, as per Counterpoint.
In terms of value, Apple's market share increased from 14 per cent in 2021 to 18 per cent in 2022, behind only Samsung, which saw its value market share rise from 19 per cent to 22 per cent Counterpoint data showed.
"We're putting a lot of emphasis on the market. There's been a lot done from financing options and trade-ins to make products more affordable and give people more options to buy. And so there's a lot going on there," Cook had said in the post-earnings conference call with investors in February 2023.
