Apple has finally opened its first Apple store in India.
👉 Background: Apple has become the favourite smartphone of hundreds of millions in the Western world over the past 20 years:
👉 What happened: But now, Apple has opened its first Apple store in India where only 4% of the nearly 700 million smartphone users are rocking Apple devices.
👉 What else: This is all about India’s growing middle class but also India has become appealing to Apple as a manufacturing hub.
💡Over the past 22 years, Apple has built an enormous dependence on Chinese manufacturers to produce its phones, computers and other devices. But with uncertainty over the US’ relations with China… and Taiwan too.. Apple is looking for other countries to become besties with.
💡India has an enormous workforce, a fast-growing economy, and large government incentives for manufacturers. In fact, Apple assembled more than $7 billion USD worth of iPhones in India last financial year - which is around 7% of all iPhones.
💡With wages in India over 50% lower than China’s, it could also be a way for Apple to grow their profit margin too.
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