Tim Cook to visit India

Apple CEO Tim Cook will be visiting India later this week to meet Prime Minister Narendra Modi, following his trip to China, to revive sluggish iPhone sales, as he is searching for new growth markets after posting its first ever decline in iPhone sales. India has denied it permission to sell refurbished phones, vital move attracting to price-sensitive local consumers.

India was keen to explore if Apple had plans to set up production facilities which would be a boost for Modi’s “Make in India” manufacturing push. According to a Indian government source “If they can make in China to cater to the Chinese market then they can make for Indian markets in India too”.

Maharashtra, is already in talks with Apple product maker Foxconn Technology to explore the possibility of setting up an iPhone plant in the western state. In India, Apple is looking to set up its first retail outlet, as it only has only 2 percent market share, as India is one of the fastest growing smartphone markets in the world. It sales surged 56 per cent in India in the first quarter, driven mainly by cheaper older-generation devices iPhone 5S. Over 100 million smartphones were sold in India last year and the market is expected to grow by 25 percent this year.

Apple is set to launch its first development centre in Nanakramguda, Telangana Southern India., as the company has leased 23, 226m² from WaveRock owned by real estate giant Tishman Speyer at Nanakramguda.