Apple’s CEO Tim Cook is in India this week to inaugurate the company’s first physical locations there, a significant step for the iPhone manufacturer in the second-largest smartphone market in the world.
Employees applauded and clapped as Cook personally welcomed visitors at the business’s new Mumbai location, which debuted on Tuesday.
Cook is also set to open another store on Thursday in Delhi.
The action is being taken as the most valuable corporation in the world is shifting its focus to India in an effort to tap into its potential as a consumer market and manufacturing hub.
According to his statement on Monday, Cook highlighted Apple’s continuous growth in India, adding that the company’s opening of brick-and-mortar services coincided with its 25th year of business there.
“India has such a beautiful culture and an incredible energy,” he said. “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.”
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Apple is the second-largest smartphone manufacturer in the world, after Samsung (SSNLF), but its 6% market share in India is still negligible.
The top five sellers in the nation, led by Samsung and the Chinese smartphone manufacturers Xiaomi and Vivo, overwhelm it.
Apple’s position is expected to grow, however, as it continues to build out its retail presence there and more customers turn to high-end smartphones.
India holds promise for businesses because of its vast population, rising middle class and growth potential from consumers who are expected to make the switch from basic cell phones to smartphones, according to Counterpoint Research Associate Director Hanish Bhatia.