First and second Apple Chief Executive Tim Cook visited India for the first time since 2016. This is because the American company has launched its first retail store in India […]
Apple Chief Executive Tim Cook visited India for the first time since 2016. This is because the American company has launched its first retail store in India in April, 2023. The store is located in the financial capital Mumbai. In addition, Mr. Cook also attended the opening of a second store in the capital Delhi in the same month.
Nowadays, India becomes more important for Apple in terms of its production as well as sales. For example, India now accounts for 5% of total iPhone production. As we know, Apple is one of the most valuable companies in the world in terms of market capitalization. However, it is also true that the company still relies its flagship product, iPhone, on its total sales.
Based on its annual report from 10-K, total net sales of the company were 394 billion USD in 2022. What’s more, net sales of iPhone in the same year were 205 billion USD. Thus, iPhone still accounts for 52% of Apple’s total net sales. In this sense, how much to sell iPhone and where it is manufactured are important issues for the company.
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