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Dhanush R

Studentย โ€ขย 5m

Apple Expands Presence in India: Apple opened 4 new stores in India because they hit an all-time high revenue in the Indian market. In other words, they donโ€™t have any additional sources to generate revenue in India right now. They already have one store in Mumbai and one in Delhi. The new stores are located in Bangalore, Pune, Mumbai, and the National Capital Region (NCR). This journey started in 2016, when Apple CEO Tim Cook made a contract to begin iPhone manufacturing in India. By 2017, Apple had begun production in India. In 2019, Apple had just 1% market share, and their revenue declined by 19%. But fast forward to today, and in FY 24 alone, Apple made $14 billion in iPhone revenue after shifting production from China to India. This now contributes 14% of global iPhone supply. Today, Apple dominates the premium phone market in India with a market share of around 7%, and their revenue has reached โ‚น68,000 crores.

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