Apple Expands Retail Presence in India as iPhone Production Soars
Apple is set to bolster its retail footprint in India, announcing plans to launch additional exclusive stores in major cities including Bengaluru, Pune, Delhi-NCR, and Mumbai. This move follows the positive reception of its existing retail locations in Mumbai and Delhi, as the tech giant experiences a significant increase in domestic sales and export figures.
Deirdre O’Brien, Apple’s Senior Vice President of Retail, expressed enthusiasm about expanding the company’s presence in India, stating, “We are thrilled to build our teams as we plan to open more stores in India, because we are inspired by the creativity and passion of our customers across this country”. O’Brien emphasized that Apple stores serve as 'incredible places to experience the magic of Apple', enhancing connections with Indian consumers.
Currently, Apple operates its branded retail outlets in Saket, Delhi, and Bandra Kurla Complex (BKC) in Mumbai. The announcement of new stores comes as Apple has begun manufacturing its entire iPhone 16 lineup, including the iPhone 16 Pro and Pro Max, in India. The locally produced iPhone 16 models are expected to be available soon for domestic customers and for export to select countries.
The expansion of Apple’s retail operations aligns with its strategy to increase local manufacturing capabilities in response to the Indian government’s Production-Linked Incentive (PLI) scheme. In the April-August period of this fiscal year, Apple’s iPhone exports from India exceeded $5 billion, marking a remarkable growth of over 50 percent compared to the same timeframe in the previous fiscal year.
In 2023-24, iPhone exports from India surged to $12.1 billion, a significant increase from $6.27 billion in 2022-23. The company's overall operations in India reached a value of $23.5 billion in the last fiscal year, highlighting its commitment to the Indian market.
Looking ahead, Apple's revenues in India are projected to grow by 18 percent year-on-year in 2024. In the previous year, the company recorded nearly 10 million iPhone sales in India, its highest figure to date, and anticipates this number will increase to over 13 million units this year. This growth trajectory is expected to fuel Apple’s expansion efforts in India, as the company continues to deepen its engagement with local consumers.