Apple's first India retail store, Apple BKC, opened its doors to customers on April 18 in Mumbai, nearly three years after it debuted its online store in the country and more than 25 years after it began operations in the country.
The opening of the 20,000-square-foot store at the Jio World Drive Mall in Bandra-Kurla Complex (BKC) signals Apple's growing ambitions in the world's second-largest smartphone market. Following the opening of the Mumbai store, the company will inaugurate another outlet called Apple Saket in Delhi at Select City Mall on April 20.
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Apple CEO Tim Cook lauded "energy, creativity, and passion in Mumbai" as opened India's first-ever Apple store at the Bandra-Kurla Complex on Tuesday. Cook, who was present at the venue of the store launch to officially open the store, said that he and the rest of Apple were excited to open the first store in India.
"The energy, creativity, and passion in Mumbai is incredible! We are so excited to open Apple BKC — our first store in India," Cook tweeted on Tuesday. Prior to his visit, Cook had said in a statement that the company is excited to build on its over 25-year history in the country by supporting its customers, investing in local communities, and working together to "build a better future with innovations that serve humanity"
Apple's efforts to ramp up its retail presence in India are in line with its plans to expand local manufacturing. Apple has tripled its production of iPhones in India to more than $7 billion in FY23, as it looks to offset its reliance on China amid the rising escalation of tensions in US-China relations.
The company had planned to open its first retail store in India in 2021, but the Covid-19 pandemic forced a delay. Delhi and Mumbai are two of Apple's largest cities, accounting for about 11 percent and 10 percent of iPhone sales in India, respectively, as per Counterpoint Research's city-level tracker. Bengaluru is the third-largest market with 6 percent.
These stores are expected to help Apple gain a stronger foothold in the country, at a time when Indian customers are buying more premium products across various product categories.
Apple clocked iPhone exports of about $5 billion-$5.5 billion from India in FY23, accounting for nearly half of the country's mobile phone exports, according to estimates from industry sources.
The Cupertino tech giant captured 25 percent of 'Made in India' smartphone shipments in terms of value in 2022, as compared to 12 percent in 2021, as per Counterpoint Research. The company's ‘Made in India’ shipments grew by 65 percent year-on-year (YoY) by volume and 162 percent YoY by value in 2022, it said.
Apple is currently the leader in India's premium smartphone market (above Rs 30,000) and the country's smartphone market in terms of shipment value in Q4 2022, according to the market research firm Counterpoint Research. It clocked record shipments of over 6.5 million in 2022, registering a 16 percent growth YoY, the firm noted.
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