Tim Cook confirms intent to bringing Apple's retail stores to India

Apple’s CEO Tim Cook has confirmed that they have applied to the Indian government to set up its fabled stores in the country, signaling India's elevation in the Cupertino-based smartphone maker's consciousness as one of its key growth markets.

In a townhall meeting with Apple employees held at Infinite Loop headquarters in Cupertino in the days following the first quarter earnings, Cook said that Apple was in "early preparations" to bring its retail stores to India, according to report by 9to5Mac, which tracks developments at Apple very closely.

Cook singled out India as "one of Apple's most important growth areas for the next decade", underlining its importance given its favourable demographics and surging smartphone sales.

Apple's top boss also said India unlike many emerging markets had 4G mobile services and it which therefore "gives Apple the opportunity to push its latest devices to regions like India".

Cook also fielded audience questions, attempting to reduce concerns related to the company's iPhone dependence, and discussed porting more Apple services to Android and releasing cheaper iPhones to appease growing markets.

India is the world's fastest growing smartphone market, having surpassed the US in 2015 as the second largest by unique active users worldwide. This would make a strong case for Apple's famed retail stores, distinct for its look, feel and customer experience, to come up as the brand enjoys a very strong aspiration value, especially among the youth.

Apple has applied for the single brand retail license, which once granted, will allow it to open its own stores here. Currently, Apple sells sells its iPhone, iPad, Mac and other products through third-party resellers in the country. But with the government easing up foreign investment rules on single brands and relaxing mandatory local procurement conditions for high-tech companies, the doors are now open for Apple to make a direct foray.

Image credit: Indiatimes