Apple Inc has achieved record sales of $6 billion in the Indian market in financial year 2023, highlighting the potential of Indian market a day before Apple CEO Tim Cook will open first store in the country in Mumbai tomorrow.
Apple's revenue in India jumped by nearly 50 per cent from $4.1 billion in financial year 2023, news agency Bloomberg reported citing a person familiar with the matter. Apple is expected to announce its quarterly earnings on May 4 and has signaled that it expects total global revenue to decline.
Apple's chief executive Tim Cook is likely to welcome customers to the iPhone maker's first store in India, which is scheduled to open at the BKC business district in Mumbai on Tuesday, company executives said on Monday.
The store is being launched as the company marks 25 years in the country.
Store openings for the iconic brand world over have witnessed fans queuing up to become the first customer, and it remains to be seen how the people of Mumbai welcome the store on a working day.
On the eve of opening for customers, a media preview was held at the store which is spread over a 20,000 square feet area. The Mumbai store opening will be followed with the launch of a similar facility in New Delhi's Saket on April 20. According to reports, Cook will also meet Prime Minister Narendra Modi.
"India has such a beautiful culture and an incredible energy, and we're excited to build on our long-standing history -- supporting our customers, investing in local communities, and working together to build a better future with innovations that serve humanity," Cook said in a statement.
The company's senior vice president for retail Deirdre O'Brien told reporters that a lot of attention has been given to Apple's key beliefs of sustainability and inclusivity, and pointed out that the 100-strong team which will be on the floor will be speaking 18 Indian languages.
The company employs 2,500 people in the country and has indirectly helped create 10 lakh jobs through its app ecosystem, she said.
The two-storey store occupies prime real estate at the corner of a sprawling mall which also houses brands like Diesel, Michael Kors, Kate Spade and Swarovski.
(With PTI inputs)
