Apple expands in India with new store opening

Apple will open a new store in Bangalore, India, on September 2 as it increases its presence in the country.

The new location will be in the Phoenix Mall of Asia, a major shopping center in the city.

Apple currently operates stores in Mumbai and Delhi.

India is a growing market for Apple, with iPhones making up 5% of the country’s estimated 700 million smartphone users, according to Counterpoint.

Apple reported over 30% revenue growth in India to US$8 billion in the fiscal year ending March 2024, mainly driven by iPhone sales.

The company has expanded local iPhone manufacturing, now producing all four iPhone 17 models in India, which accounts for more than 20% of its global iPhone output.

🔗 Source: Bloomberg

🧠 Food for thought

1️⃣ Apple’s methodical eight-year manufacturing buildup sets stage for retail expansion

Apple’s new Bangalore store represents the culmination of a carefully orchestrated strategy that began with manufacturing investments in 2017.

The company started iPhone assembly in Karnataka through Wistron in 2017, then expanded with Foxconn’s $300 million investment in 2019, and now produces all four iPhone 17 models in India ahead of their global launch2 3 1.

This manufacturing foundation has grown from producing virtually zero iPhones to accounting for more than a fifth of global iPhone production, with plans to reach over 60 million units annually by 20261 4.

The progression from contract manufacturing to retail presence mirrors Apple’s successful playbook in China, where manufacturing scale preceded major retail expansion.

Apple’s India revenue jumped over 30% to $8 billion in fiscal 2024, with iPhone shipments growing 21.5% year-over-year to 5.9 million units in the first half of 20251 5.

This manufacturing-first approach allowed Apple to reduce costs through local production, avoiding the 20% import duty while building supply chain expertise that now supports both domestic sales and exports to markets like the US2 3.