Apple
Tim Cook confirms plans to open four new Apple stores in India
California/IBNS: Apple CEO Tim Cook has announced plans to open four additional Apple Stores in India, following record-breaking quarterly revenue for the third quarter of 2024.
Currently, Apple operates two official stores in India—one in Mumbai's BKC and the other in New Delhi's DLF Saket.
Cook highlighted the company’s enthusiasm to expand further, stating, "We also opened two new stores during the quarter, and we can’t wait to bring four new stores to customers in India” during Apple’s recent earnings call.
Apple reported record-breaking iPhone sales globally, with significant growth in India, where the company achieved its highest-ever revenue.
The iPhone category set a new September quarter revenue record, with growth across all regions, including the Americas, Europe, and Asia Pacific.
Additionally, Apple marked revenue records in key countries such as the U.S., Brazil, the UK, Korea, Malaysia, and notably, India.
The iPad segment also saw strong growth, particularly in emerging markets.
Luca Maestri, Apple’s CFO, noted, "iPad generated $7 billion in revenue, up 8 percent year-over-year,” with double-digit growth in India, Mexico, Brazil, the Middle East, and South Asia.
While specific locations for the new Indian stores have yet to be disclosed, reports suggest they may open in Bengaluru, Pune, and the Delhi-NCR area, along with a second location in Mumbai.
If confirmed, both Delhi and Mumbai will each host two Apple Stores, with new locations expanding into Bengaluru and Pune.
According to Counterpoint Research, Apple now holds a 22 percent share of India's smartphone market by value, positioning it just behind Samsung.
The recent launches of the iPhone 15 and iPhone 16 ahead of India’s festive season have further strengthened Apple’s market presence.
Globally, Apple achieved $94.9 billion in revenue for the September quarter, up 6 percent year-over-year, with iPhone revenue growing by 6 percent alone.
Looking ahead, Apple projects modest growth, driven by the gradual introduction of new AI features across its products.
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