Apple announced on April 11 that it plans to open its much-anticipated retail store Apple BKC in Mumbai on April 18, marking a significant expansion of its operations in the country that is becoming increasingly important for its future growth. Apple BKC will be the company's first company-owned retail store in India.
The iPhone maker also announced plans to open its second store in Delhi on April 20, in addition to unveiling the barricade for the outlet named Apple Saket. The company said that its design is inspired by Delhi's many gates, each signifying a new chapter to the city’s storied past.
"These retail locations will offer great new ways to browse, discover, and buy Apple products with exceptional service and experiences for customers," Apple said in a statement.
Also Read: Apple Saket store first look revealed, inspired by Delhi's many gates. See pic
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.
To commemorate the opening of the store, Apple BKC will also conduct a series of free creative sessions, dubbed "Mumbai Rising", that will offer hands-on activities with Apple’s products and services that celebrate the local community and culture in Mumbai, the company said in a statement. These sessions will bring local artists, creatives and visitors together and will run from April 18 through the summer, it said.
These retail stores also mark Apple's growing ambitions in the country, which is emerging as a key market in terms of sales and manufacturing capabilities. In addition, there is a growing trend among Indian consumers towards premiumisation.
Also Read: Apple's first India retail store launch comes amid a booming premium market
In recent quarters, Apple executives have mentioned several times that they are witnessing record revenue growth in terms of iPhone sales in India, registering a strong double-digit increase every quarter.
Apple chief executive officer Tim Cook stated during the company's earnings conference call in February 2023 that India is a "hugely exciting market" for the Cupertino tech giant, and the iPhone maker is putting a lot of emphasis on the world's second-largest mobile phone market. Apple also witnessed "record levels" of people switching to iPhone in the country, Cook said.
Cook said they are taking several measures to grow the iPhone adoption in the country by making it more affordable through various financing options and trade-ins. The company introduced its online store in India in 2020.
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% growth YoY, the firm noted.
India is also becoming a key manufacturing hub for Apple as it looks to diversify its manufacturing capabilities beyond China. The company is currently making iPhones in India through contract manufacturers such as Foxconn, Wistron and Pegatron, with plans to make other products such as its wireless headphones Airpods in the country.
Apple 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’s partners Foxconn and Wistron were the fastest growing manufacturers among the top 10 in Q4 2022, fuelled by increasing exports from Apple, the report added.
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