Apple is set up to open a new store in Bengaluru early next month, as part of its efforts to deepen its retail footprint in India.
The new outlet, located in Bengaluru’s Phoenix Mall of Asia, will be open to customers on September 2, said Apple.
The US tech giant currently operates two stores in India – BKC Store in Mumbai and Saket store in Delhi. During its Q1FY25 earnings call, CEO Tim Cook said that four new stores will be opened in India, including in Bengaluru, Pune, Delhi-NCR, and Mumbai.
According to market research firm Counterpoint, iPhones account for 5% of India’s more than 70 crore smartphone users. The revenue of Apple in India has jumped 30% to $8 billion in the fiscal year to March 2024.
Apple is also expanding iPhone production in India due to US tariffs on China. To mitigate tariff-related costs, the company has shifted much of its production for the U.S. market from China to India.
The move has significantly boosted India’s iPhone exports. Between April and July, India exported iPhones worth $7.5 billion — nearly half of the $17 billion exported during the entire previous fiscal year.
While the Trump administration has imposed 50% tariffs on Indian goods, iPhones remain exempt. In a bid to maintain this exemption, Apple CEO Tim Cook announced plans to invest $600 billion in the United States over the next four years. Cook also said that most iPhones sold in the U.S. will soon be imported from India.
