Apple plans four new retail stores in India

Group 1: Retail Expansion - Apple plans to open four new retail stores in India, specifically in Bengaluru, Pune, Delhi-NCR, and Mumbai, building on its previous openings in Mumbai and New Delhi [1] - The company aims to enhance customer engagement and shopping experiences through these new stores, as stated by Deirdre O'Brien, Apple's senior vice president of Retail [1] Group 2: Manufacturing Shift - Apple has started producing its entire iPhone 16 lineup, including Pro models, in India, continuing its manufacturing efforts that began in 2017 with the SE model [2] - The company is diversifying its production away from China to capitalize on India's growing smartphone market, although the transition is slower than previously anticipated [2] - Current estimates suggest that 10-15% of total iPhone production occurs in India, with expectations of reaching 20-25% by 2027, a delay from earlier forecasts of 2025 [2] Group 3: Market Performance - Apple's revenue in India increased by 42% year-on-year in 2023, reaching $8.7 billion, indicating strong market growth [3] - iPhone shipments in India grew by 39% year-on-year in 2023, totaling 9.2 million units, making India the fifth largest smartphone market for iPhones [3] - The iPhone business in India surpassed that of any standalone country in the European Union in 2023 [3]