Per CNBC
Apple opens its first India store in Delhi, Mumbai
4/18/2023
Tim Cook has recently expressed his plans to expand Apple into India, and now, the company is opening its first flagship store in Delhi, Mumbai. The store is called Apple BKC.
Apple CEO Tim Cook gave a statement regarding their decision to expand in India, describing the culture and energy. The CEO also shared how the company is excited to build "on our long-standing history."
Cook: “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.”
Per Tech Crunch, India is the second-largest internet market worldwide. However, most smartphones sold within the country are priced under $250, with India only accounting for a fraction of Apple's overall revenue.
Apple also announced that the Apple BKC store is powered completely by renewable energy. The company claimed that its store in Mumbai was "one of the most energy-efficient" locations worldwide.
Counterpoint Research partner Neil Shah commented on how India's market was undergoing "premiumification" and how smartphones that cost over $400 now take up 10% of total handhelds shipped.
Shah: “Apple as usual has got the timing right on ‘peaking at the right time’ with its flagship store strategy to catalyse this trend in its favour,”
Recently, Apple's CEO Tim Cook shared his morning routine, revealing how he starts reading emails at 5 AM. He also shared how he worked out in the morning, specifically weightlifting.
Apple has partnered with Goldman Sachs to offer saving accounts at a 4.15% interest rate. This was way higher than the average APY of other saving accounts at just 0.37%.
The interest rate beats Apple's previous Daily Cash feature, which gave users 3% back on purchases.
See flow at unusualwhales.com/flow.
Other News:
- Apple Tim Cook starts reading emails at 5 AM to start his day
- Apple partners with Goldman Sachs for savings accounts, offering a 4.15% interest rate
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