India is one of the fastest growing consumer markets electronicsalternative choice of their supply chains Chinabut also a country with a very high percentage of young people. Hence its tech giant Apple opened its first store there, as it seeks to attract a large number of new users and appropriately “educate” those who will be directed to its products in the future. This store is based in Mumbai and makes a strong case for the importance of this particular market for the future tech giant. A week after Mumbai, a second store will open. New Delhi. Apple’s goal, which has been present in India for at least 25 years, according to a related statement, is to boost both sales and production. iPhone in the country.

Analysts say the strategy is similar to Apple’s approach when it decided to debut in China, which is now one of its biggest markets, according to CNBC and moneyreview.gr in a related article.

According to Apple, the new Mumbai store is one of the most energy efficient locations in the world thanks to its photovoltaic grid and zero dependence on fossil fuels, allowing it to be 100% renewable. It is noted that the CEO of Apple, Tim Cook, has always considered India a key market for the future of his company. After all, in February, he expressed his optimism about the future of the world’s fifth largest economy, such as India, and said that the company would give a significant boost to the country’s market.

However, industry analysts have questions about this enterprise. It can be difficult for Apple to break into the market, as Chinese manufacturing companies have been the dominant force in the mobile phone market in recent years, as well as South Korean Samsung, which promotes low- and mid-range devices.

Apple itself, for its part, currently occupies a very small share of the Indian market. However, especially since the pandemic, there has been a shift towards more expensive devices. Tellingly, Counterpoint Research estimates that smart mobile phones $400 and up now account for 10% of total device sales in India, up from 4% before the pandemic. In terms of device revenue, these types of mobile phones account for 35% of the total. “As usual, Apple has found the right time to catch the market peak in terms of sales, and its first store is expected to serve as a catalyst to take advantage of this trend,” concluded Neil Shah, partner at Counterpoint Research.