Apple, one of the largest tech companies in the world is set to assemble its next iPhones in India by the month of April. This is to further enhance the appeal of its premium-priced Apple products to the Indian market.
What's The Story?
As per Bloomberg, Priyank Kharge, Karnataka's IT minister noted that Apple Inc. will begin assembling iPhones in Bangalore by the end of April. This is to heighten its focus on the world's fastest-growing major smartphone market as growth slows elsewhere. The U.S. company has already even tapped Taiwan's Wistron Corp. to put together its phones in the tech capital and Apple executives have met with him in January to confirm the timeline.
This plan of assembling iPhones in India comes after months of speculation on Apple's plan for the market. This signals a renewed focus on India where it just scrapes into the top 10, as growth begins to slow in China and other more mature markets. It was also noted that the Cupertino, a California-based company have placed forward a long list of demands in negotiations with India's federal government which includes a 15-year tax holiday to import components and equipment.
What CEO Tim Cook Feels About India
On an earnings call this week, CEO Tim Cook, mentioned that India is definitely the place to be. Just last year, Apple have shipped over 2.5 million iPhones into the said country and was labeled as its best year ever in terms of revenue and sales, but only ranked at the 10th place among vendors in the December according to Counterpoint Research.
And though most consumers in India currently prefer to buy cheaper devices made by Samsung and Chinese brands such as Oppo, Tim Cook believes that in the long run coupled with the rising incomes, it will prove to be a great move and its potential customers in India will be attracted to the premium-priced iPhones overtime.