Apple’s CEO Tim Cook has confirmed that the tech giant is set to open four new Apple Stores in India, building on its record-breaking revenues for the third quarter of 2024.
At present, India hosts only two official Apple Stores: one in BKC, Mumbai, and another in DLF Saket, New Delhi. Cook expressed excitement during the recent earnings call, stating that after opening two new stores earlier in the year, Apple is eager to continue expanding in India with these upcoming locations.
iPhone sales have continued to flourish globally, breaking records across all regions, with India contributing significantly to this growth.
Cook highlighted that Apple reached its highest-ever revenue in the Indian market, reflecting the country’s growing appetite for premium smartphones and tech products. This surge has propelled Apple to set new benchmarks, not just in India but also in major markets like the Americas, Europe, and other parts of Asia Pacific.
Apple’s impressive performance isn’t limited to iPhone sales. The company also reported an increase in iPad revenue, which hit $7 billion for the quarter, marking an 8 per cent year-over-year growth.
CFO Luca Maestri noted that this rise was not only seen in developed markets but also in emerging regions, including Mexico, Brazil, and notably, India, where double-digit growth was observed.
While the news of expanding Apple’s retail footprint in India has been floating around for some time, Cook’s confirmation brings it one step closer to reality. Although the exact locations of the new stores have yet to be disclosed, reports hint at potential spots in Bengaluru, Pune, and the Delhi-NCR area, with an additional store in Mumbai.
If these speculations hold, it would mean that both Delhi and Mumbai will have two official stores each, with new openings in Bengaluru and Pune enhancing Apple’s reach.
Apple’s commitment to India reflects its strengthening position in the country’s tech landscape. Currently, Apple holds a 22 per cent share of the Indian smartphone market by value, just behind Samsung, according to Counterpoint Research.
The recent launches of the iPhone 15 and iPhone 16, timed ahead of the festive season, have bolstered its market presence further. Globally, Apple reported $94.9 billion in revenue for the September quarter, up 6 per cent year-over-year, with iPhone revenue alone seeing a 6 per cent increase. Moving forward, Apple projects modest growth, driven by the gradual introduction of new AI features across its products.
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Apple to open 4 new Apple Stores in India, confirms CEO Tim Cook
