Apple had committed to invest an amount of Rs 1,000 Cr in India in the next two to three years to set up its first online retail platform and open three company-owned stores across major cities.
The first store was expected to be launched in the first quarter in Mumbai but it has delayed the plan to Q3 2020. As per news report, Apple is seeking more time to complete the backend work.
Further, the company reportedly wants to roll out the first store around a high sales period to before the festive season. Apple has noted that 30% of its sales come from online platforms like Amazon and Flipkart, with a large chunk of sales coming from offline channels. The company wants to time the India ecommerce business launch with the arrival of the new iPhones.
To take stock of the India business, including manufacturing expansion, exports from the country and the roll out of the company-owned online and brick-and-mortar Apple stores, it is expected that Apple CEO Tim Cook may visit India around June-July 2020.
The news source also reveals that Apple with its manufacturing partner Foxconn will be investing $1 billion in India to export ‘Made in India’ iPhones around the world. The factory in Chennai owned by Foxconn will be used as a manufacturing unit for Apple’s product. The handset maker’s other component suppliers will also be investing in the venture.
Apple has already begun limited local production of certain models in India through a Bengaluru-based factory operated by Taiwanese manufacturing partner Wistron.
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