Business

Apple to open first retail store in India, the world’s second-largest smartphone market, at financial capital of Mumbai

Apple is set to open soon its first official retail store in India, a landmark move for the iPhone maker which is placing big bets on the South Asian nation for everything from manufacturing to sales.

The world’s most valuable company released a picture of the barricade of its new Apple Store in India’s financial capital of Mumbai on Wednesday, but stopped short of giving a date for its opening.

The new Apple Store, housed in a posh shopping centre owned by billionaire Mukesh Ambani, is located in the city’s main business district alongside multinational banks.

The launch highlights Apple’s push to expand in India, which is set to overtake China as the world’s most populous nation this year. The South Asian country is also the world’s second-largest smartphone market.

India is expected to assemble up to 50 per cent of Apple ’s iPhones by 2027, up from fewer than 5 per cent at present, to be on par with the scale of production in mainland China. Photo: AP

India is expected to assemble up to 50 per cent of Apple ’s iPhones by 2027, up from fewer than 5 per cent at present, to be on par with the scale of production in mainland China. Photo: AP

India’s growing middle class is an attractive target group for Apple’s pricey smartphones and personal computers, which has prompted the US company and its major suppliers to expand manufacturing operations in the country.

The news is published by EMEA Tribune & SCMP210520-twitter-verified-cs-70cdee.jpg (1500×750)

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