Apple has another new address: Hyderabad, India
Apple is still hard at work on its new campus in Cupertino. While that glass spaceship takes shape, the Silicon Valley giant is also opening a technology development center thousands of miles from its home-town. The company announced today that it has invested $25 million in a new facility in Hyderabad, India. It hopes the 250,000-square-foot space will house 4,500 employees.
As of now, Apple captures only 2 percent of the Indian smartphone market, trailing far behind cheaper counterparts like Micromax, Xiaomi and Lenovo.
So, the question arises, why would it set up shop in a country where it�s so far behind?
Amid slowing iPhone sales growth and a projected decline in revenue, the Indian market was a site of celebration for Apple at the end of 2015. Sales of the company�s flagship smartphone climbed 76 percent in India from the year-ago quarter.
In fact, while it�s far from the market leader, Apple does have the biggest presence in the 4G market in India. Prepaparing for better sales in the future, Apple recently applied for a single brand retail license. So far, iPhones, iPads and Macs have only been available in India through third-party sellers. The retail license is a sign.
Apple may be looking to open its own stores, as it has in China. In a conference call last month, CEO Tim Cook called out India�s young demographic, as well as an expanding middle class with growing disposable income, as signs of a bright future in the country. Seeing the tables turn in its favour in India, Apple is getting creative with developing a local presence, taking aim at what could well be its greatest untapped.
