Tag: Ceo Tim Cook

HIGHLIGHTS * Apple is marking 25 years in India this week. * The iPhone maker is also opening its first ever Apple Store in India tomorrow. * There will be a total of two Apple Stores in India for now with the other in Delhi. It’s a big week for Apple in India as the iPhone maker is completing 25 years in the country and is also opening its first ever store here. ‘Apple BKC’, the first ever Apple Store in India, is opening tomorrow at the Bandra Kurla Complex in Mumbai. Apple also shared some milestones of its journey in India so far. Apple in a press release said that Apple BKC is one of its most energy-efficient stores in the world. It has a dedicated solar array with no zero reliance on fossil fuels for store operations. The Apple BKC store is also carbon neutral and runs on 100 percent renewable energy. This is in line with Apple’s commitment to be carbon neutral for its entire business by 2030. The iPhone maker recently announced it will use 100 percent recycled cobalt in all its products’ batteries by 2025. The Apple BKC store in Mumbai is scheduled to open tomorrow at 11 am for all. There’s another Apple Store that is scheduled to launch April 20th and this one is located at Select City Walk Mall in Saket, Delhi. 25 years of Apple in India On Apple marking 25 years in the country, CEO Tim Cook said, “India has such a beautiful culture and an incredible energy, and 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 with innovations that serve humanity.” The iPhone maker said its App Store payouts to developers have more than tripled since 2018, and supports more than one million jobs. The iOS App Design and Development Accelerator in Bengaluru has so far hosted sessions for over 15,000 developers, it added. Apple said that it is on the road to using 100 percent clean energy for its all active Indian manufacturing supply chain partners. The first iPhone was manufactured in India in 2017. "India has such a beautiful culture and an incredible energy, and we are excited to build on our long-standing history - supporting our customers, investing in local communities, and working together to build a better future with innovations that serve humanity," Apple CEO Tim Cook said. Apple exports from India are estimated to have crossed USD 5 billion in the financial year 2022-23 which is about half of the total exports of "Made In India" phones. The company started manufacturing iPhones in India in 2017 through its contract manufacturers. "Apple's work with Indian suppliers of all sizes supports hundreds of thousands of jobs across the country," the statement said. The company also said that it works one-on-one with developers to help take their apps from "good to great" at the iOS App Design and Development Accelerator in Bengaluru. "India's vibrant community of app developers now supports more than 1 million jobs. A testament to the tremendous growth of developers in India, App Store payouts to developers in the country have more than tripled since 2018," the statement added. Faqs on Apple India 1) What is Tim Cook Latest take of Apple on India ? Ans) Apple CEO Tim Cook on Monday said that the company is excited to build on its long-standing history in India, as it gears up to mark a major expansion with the opening of its first retail stores in the country. Apple completes more than 25 years in India this week and the tech giant will open two own-branded retail stores -- at Jio World Drive Mall in Mumbai and at Select CityWalk mall in Saket, Delhi. "India has such a beautiful culture and an incredible energy, and 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 with innovations that serve humanity," said Cook who will inaugurate the retail stores in the country, a first for the tech giant which has doubled down on its India growth plans. Apple's first two retail stores in India will welcome customers from all over the country and around the world. The new Apple flagship retail stores in Mumbai and Delhi, backed by aggressive sales initiatives, will fuel Apple's growth in the year ahead, according to industry experts. India's vibrant community of app developers now supports more than 1 million jobs. App Store payouts to developers in the country have more than tripled since 2018. At the iOS App Design and Development Accelerator in Bengaluru, Apple works one-on-one with developers to help take their apps from good to great. Since 2017, the accelerator has hosted sessions for more than 15,000 developers, enabling them to build on their ideas and bring cutting-edge apps to the market. As part of Apple's commitment to be 100 per cent carbon neutral for its supply chain and products by 2030, all active Indian manufacturing supply chain partners are committed to using 100 per cent clean energy for their Apple operations. Apple began manufacturing iPhone in India in 2017, and since then, the company has worked with suppliers to assemble iPhone models and produce a growing number of components. Apple recently launched educational programming in India focused on women's health, as part of the company's $50 million Supplier Employee Development Fund which was founded in 2022 to educate supplier employees on new skill development, rights awareness, and other learning opportunities. 2) What caused the delay in the launch of Apple Store in India? Ans) Until now, Apple hardware, including iPhones, was available for purchase from Apple Premium Resellers,--third-party stores such as iWorld, Future Retail, and Invent. These stores had to acquire a license from Apple to sell devices. The company also launched its online retail store a few years ago. Apple has 522 stores across 25 countries and regions worldwide. The newest store was inaugurated by Apple CEO Tim Cook in the Gangnam District in Seoul, South Korea on March 31, 2023. But what took Apple so long to come up with its own retail store in India? India has emerged as a key strategic market for Apple over the last few years. While Apple has been wanting to launch its stores in India, the country’s Foreign Direct Investment policy restricted it from doing the same. “India allowed 100% FDI on single-brand retail, however, there was a mandate that 30% of the sourcing should be done locally. The government of India relaxed this clause in 2018, wherein the single-brand retail entity would have to show incremental sourcing (locally from India) over five years (from 1st April of the year of the opening of the first store). After completion of this 5-year period, the entity will be required to meet the 30% sourcing norms directly towards its India’s operation, on an annual basis,” explains Prachir Singh, Senior Research Analyst at Counterpoint. This clause allowed Apple to start planning for a physical store in India. However, the plans were halted due to the COVID-19 outbreak. The company had intended to open the store in 2022, but the plans were further delayed, and is finally launching on April 18, 2023. And as the company is finally opening two Apple Retail stores in Mumbai and Delhi on April 18 and April 20, respectively, Apple CEO Tim Cook is also expected to fly down to Mumbai and Delhi for the launch of the Apple Stores. He is likely to meet Prime Minister Narendra Modi and some cabinet ministers to discuss the company’s Make in India plans. Until now, Apple hardware, including iPhones, was available for purchase from Apple Premium Resellers,--third-party stores such as iWorld, Future Retail, and Invent. These stores had to acquire a license from Apple to sell devices. The company also launched its online retail store a few years ago. The Apple Retail Store is a company-owned store that will be housing huge inventories –including all variants and colours of its products. If a customer is looking at customising a product configuration, say an iMac, the Apple Store is a perfect place to buy it without delays. In addition, the store has Apple Specialist - trained Apple staff with complete knowledge about Apple devices and services to answer all customer queries. Customers who shop directly with Apple in-store can enjoy personalised advice from an Apple Specialist. They know the products and services inside and out and aim to make everyone feel welcome. Team members can help customers select and set up a device — including transferring data and activating a cellular plan — and choose the right financing plan. Also, consumers can spend as much time as they wish to experience Apple devices without being pressured to purchase them. Along with premium experience, Apple also offers Apple Trade-In which makes it easy for customers to exchange an eligible Apple or third-party device for credit toward their next Apple purchase. Also Read: Apple’s first retail store Apple BKC in India is opening in Mumbai and this is what it looks like: Store Location, First Look Also Read: Apple BKC opens April 18 and Apple Saket opens April 20

Tag: Ceo Tim Cook

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