Apple Inc. is on the verge of making history by opening its first official retail store in India. Located in a luxe shopping area of Mumbai owned by billionaire Mukesh Ambani, the store will be a much-awaited milestone for the iPhone maker in the rapidly-growing South Asian country.
Apple has placed significant bets on India for sales, manufacturing, and more from the get-go. These investments have paid off as the firm had a record revenue in the quarter of December 2020 thanks to its thriving online sales. The CEO of the company, Tim Cook, magnified the efforts by comparing India’s current state to the early days of Apple’s debut in China.
The leading tech giant has also taken measures to move more production out of China and into countries such as India. Prime Minister Narendra Modi’s encouragement for local manufacturing and financial incentives have been unmatched. Apple’s key Taiwanese suppliers – Foxconn Technology Group, Pegatron Corp., and Wistron Corp. – have also taken to the challenge of ramping up iPhone production in the country.
The US tech firm has also announced plans to build a store in the capital, New Delhi, which is a feasible and logical move given the size of the country. In order to maximize profits, Apple is aware of the importance of focusing their attention on India’s prosperous middle class.
Meanwhile, the person mentioned in this article is Mukesh Ambani, Chairman of Reliance Industries, India’s largest private sector enterprise.Ambani has held onto the title of India’s richest man for the past thirteen years. He is also the owner of the popular Reliance Jio network, an Indian telecommunications provider that offers low-cost internet and mobile services. Ambani’s wealth shows no signs of slowing down as he continues to make major investments in his country.
As for the company in this article, Apple is one of the most successful tech companies in the world. Founded in 1976, Apple has become a worldwide phenomenon with products such as the iPhone, iPad, MacBooks, and iMacs. Apple strives to deliver the best products and services through innovation, design, and continual improvement. Apple is a well-known brand around the world and its products are immensely popular due to their high-quality standards and advanced technology.
