Apple retailers’ entry into India, in charts

The world’s largest experience company, Apple, opened its first retailer in Mumbai on Tuesday. The agency plans to open a second retailer throughout the capital on Thursday. The Mumbai retailer might be Apple’s 523rd retailer. Notwithstanding the euphoria throughout the openings, the tech massive faces stiff rivals in India, the place its iOS-based merchandise have a market share of solely 6%.

Of late, Apple has been eyeing India, not solely as a market, however moreover as a base to manufacture its high-end cell telephones. The switch is seen as part of Apple’s approach to maneuver its base out of China, the place strict covid restrictions remaining yr severely hampered manufacturing actions. Mint explores Apple’s footprints in India:

Apple’s market

With the addition of two retailers in India, the complete number of Apple retailers will improve to 524. Most of these retailers—272, or 52%—are throughout the US, adopted by China, which has 44 (or 8%) of them. The the rest of the retailers are primarily located in Europe and totally different east Asian worldwide areas.

Popularity in India

Though customary, Apple’s enlargement in India has been restricted, primarily because of extreme prices of its merchandise. While throughout the US and China, the market share of iOS-based merchandise is 57% and 24%, respectively, in India market share is restricted to 6%. Nevertheless, whatever the extreme worth, Apple has been ready to carve a definite section for its merchandise throughout the nation. Apple’s iPhone 13, with a price tag of ₹60,000+, featured among the many many best-selling smartphones in January 2023, in an inventory dominated by funds telephones.

Chinese monopoly

The manufacturing hub for Apple merchandise is concentrated in Eastern Asia, with China important the way in which wherein. The nation is dwelling to 150 of the 191 suppliers and contributes over 94% of the complete Apple merchandise. Several totally different worldwide areas in Eastern and Southeastern Asia are moreover part of Apple’s present chain.

India enlargement

A strict covid-induced lockdown remaining yr and Beijing’s strained relations with Washington have prompted the US-based tech massive to seek for manufacturing decisions exterior China. In January this yr, the state authorities of Karnataka launched it might allocate land to Foxconn, the most important producer of Apple’s iPhones, to rearrange a producing unit throughout the state.

Catch all the Technology News and Updates on Live Mint.
Download The Mint News App to get Daily Market Updates & Live Business News.

More
Less

Topics