Apple's India Stores Shine Bright; Revenue Surges, Join Ranks Of Top-Performers Globally: Report

Apple's India Stores Shine Bright; Revenue Surges, Join Ranks Of Top-Performers Globally: Report

Amid the ongoing geopolitical tensions and a slowdown in key markets like the US and China, Apple is increasing its focus on India, the world's second-largest smartphone market.

G R MukeshUpdated: Monday, April 22, 2024, 04:49 PM IST
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Apple Inc | Pixabay

The US-based tech giant Apple opened two company-owned outlets in India, one in Mumbai - Apple BKC on April 18, 2023, and the other in Delhi - Apple Saket on April 20, 2023, recently completing a year, each store has posted a revenue of Rs 190 to 210 crore in the last fiscal year, according to The Economic Times report. Moreover, these stores were inaugurated by Apple's chief executive, Tim Cook.

According to The Economic Times, citing source aware of the matter reported that since their launch in India, the two outlet in India reported a monthly average sales of Rs 16 to 17 crore.

Furthermore, as per the report, the revenue of the Mumbai store was a slightly higher compared to the Delhi store due its larger size.

According to sources familiar with the matter cited by The Economic Times, the company is also currently in talks to start stores in Pune and Bengaluru, as well as a second outlet, specifically in Noida. Moreover, it is also expected that these location to be situated within prominent malls.

Amid the ongoing geopolitical tensions and a slowdown in key markets like the US and China, Apple is increasing its focus on India, the world's second-largest smartphone market.

According to a report by The Economic Times, Apple is also considering to launch its latest gadget, the Apple Vision Pro mixed-reality headset, in India soon.

Moreover, despite challenges, Apple has witnessed double-digit revenue growth in India every quarter since the launch of its stores, marking a market for the tech giant's continued expansion efforts.

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