It has been quite a year for Apple in India as the company opened its first two retail stores. Apple CEO Tim Cook visited India and spoke about the immense potential country has to offer. Now, during the company’s investors’ call after announcing quarterly results, Cook doubled down on Apple’s focus on India and the significance it holds.
Cook has openly acknowledged that Apple struggles to gain a significant foothold in India, given the country’s strong preference for Android devices. In his candid conversation with investors, he confessed to having a minuscule share in the smartphone market there. Nevertheless, Cook views this as a golden opportunity for the tech giant. He shared the company’s unwavering commitment to enhancing its presence in India. Recent data from IDC reinforces this narrative, placing Apple as the seventh major player in the Indian smartphone market, boasting an approximate 7.7% market share. Encouraged by this positive trajectory, Apple aims to capitalize on the momentum and further bolster its position in the country.
In his Official Statement, he said
We continue to work on building out the channel and putting more investment in our direct-to-consumer offers as well. We also opened our first two retail stores during the quarter and of course, it’s early going currently, but they are currently beating our expectations in terms of how they are doing.
Cook emphasized the fact that Apple ought to be doing well as India is the second-largest smartphone market in the world. “We are very pleased with our growth there,” he added. Cook also revealed that Apple hit a quarter revenue record in India and grew in strong double digits. The Apple CEO was buoyed by the response to its first two stores in India. On April 18, Apple opened its flagship outlet — Apple BKC — in Mumbai and two days later followed it up with another store in New Delhi.