Apple planning for retail expansion in India, may open 2 new stores in Mumbai and Bengaluru

American devices maker Apple opened two retail stores in India about two years ago. The company plans to start new stores in the country soon. Earlier this year, Apple’s CEO, Tim Cook had said that the company plans to open four new stores in the country. The company’s current stores are in Delhi and Mumbai. A media Report It is reported that Apple plans to open new stores in Sky City Mall in Borivili, Mumbai and Finix Mall of Asia in Bangalore. This report states that workers are being hiring for these stores for the last few months. Recently, a report reported that two Apple stores can be opened in Noida’s DLF Mall of India in Uttar Pradesh and Kopa Mall in Pune. Apart from this, the company plans to open two additional stores. The report quoted sources who have been aware of the company’s plan as saying that Apple has fixed the location for its third and fourth stores in Noida and Pune. Apart from this, it is also looking for location for two stores in Mumbai and Bengaluru.

The company’s existing two stores were joint revenue of about Rs 800 crore in the first year of sales. Saket’s store in Delhi was 60 percent. Apple has finished first in the international sales of smartphones in the first quarter of the current year. The company has benefited from increasing demand in India and Japan and launch of iPhone 16E. The company holds around 19 percent stake in the smartphone market. Apple sales have been flat or decreased in America, Europe and China. South Korea’s Samsung is in second place in the smartphone market with about 18 percent stake.

The iPhone stakes about Rs 1.5 lakh crore in the export of smartphones from India in the last financial year. The manufacturing of iPhone has increased rapidly in the last few years in the country. Apple’s contract manufacturer FoxConn had assembled about 1.2 million iPhones in the country last year. China has a major stake in manufacturing iPhones.