Tim Cook
India, the world’s most populous nation, is on the verge of becoming a major market and production base, as Apple Inc. chief executive Tim Cook highlighted on Thursday.
On a conference call following the announcement of earnings, Cook, who oversaw the opening of Apple’s first two Indian retail locations last month, mentioned India along with his lieutenants approximately twenty times. The company’s increasing reliance on the market to propel overall growth was evidenced by record sales for the March quarter in India.
Cook told analysts on the call, “There are a lot of people coming into the middle class, and I really feel that India is at a tipping point.” and the market’s dynamism. It’s unbelievable how alive it is.”
In a nation of 1.4 billion people where rising incomes are boosting consumer spending and smartphone sales are plateauing elsewhere in the world, Apple wants to accelerate growth. Although Apple does not break out India’s revenue in its earnings statements, Bloomberg News reported that the country saw sales of almost $6 billion from January to March.
It also wants to use a huge pool of workers. As tensions between Washington and Beijing continue to rise, Apple is looking into ways to reduce its reliance on China. Its long-lasting accomplices, who make the vast majority of the world’s iPhones from rambling processing plants in China, have added mechanical production systems at a fast speed over the course of the last year.
