Apple CEO Tim Cook confirms plans to open 4 new Apple Stores in India

As Apple announced its record-breaking revenues for the third quarter of 2024, the company CEO also confirmed plans to open 4 new Apple Stores in India.

In Short

• Apple to open 4 new stores in India
• Record Q3 2024 revenues with iPhone sales growth
• Potential new store locations: Bengaluru, Pune, Delhi-NCR, Mumbai

Apple CEO Tim Cook has confirmed the opening of 4 new Apple Stores in India, as he announced record-breaking revenues for the company for the third quarter of 2024. Currently, Apple has only two official stores in India, one in BKC Mumbai and the other in DLF Saket in New Delhi. “We also opened two new stores during the quarter, and we can’t wait to bring four new stores to customers in India,” the Apple CEO said during Apple’s latest earnings call. CEO Tim Cook reported that iPhone sales increased across all regions, setting global records. India, in particular, saw remarkable growth, with Apple reaching its highest-ever revenue in the country.

“The iPhone grew in every geographic segment, marking a new September quarter revenue record for the category, and services set an all-time revenue record, up 12 per cent year-over-year. We also set September quarter segment revenue records in the Americas, Europe, and the rest of Asia Pacific, as well as in a large number of countries, including the United States, Brazil, Mexico, France, the UK, Korea, Malaysia, Thailand, Saudi Arabia and the UAE, and we continue to be excited by the enthusiasm we’re seeing in India, where we set an all-time revenue record,” said Cook.

Apple also saw a jump in iPad revenues this quarter, including from the Indian market. “iPad generated $7 billion in revenue, up 8 per cent year-over-year. In addition to growth in developed markets, we also saw strong performance in many emerging markets, with double-digit growth in Mexico, Brazil, the Middle East, India, and South Asia,” said Luca Maestri, senior vice president and CFO at Apple.

The news about Apple’s plans to open more stores in India isn’t new. There have also been reports in the past that speculated that Apple is working on opening more official Apple stores in India. While Apple CEO Tim Cook has confirmed that four new stores will be opening in India, their locations have not yet been confirmed. Reports, however, suggest that the new stores could be opening in Bengaluru, Pune, and the Delhi-NCR area, along with another store in Mumbai. This would mean, Delhi and Mumbai will eventually have two official Apple Stores, and new ones will be opened in Bengaluru and Pune, if the reports are true.

Apple now claims a 22 per cent share of India’s smartphone market by value, trailing only Samsung, according to Counterpoint Research. The recent launches of the iPhone 15 and iPhone 16 ahead of the festive season have further strengthened Apple’s market position. Globally, Apple reported $94.9 billion in revenue for the September quarter, marking a 6 per cent year-over-year increase, with iPhone revenue alone rising 6 per cent. Looking ahead, Apple anticipates single-digit growth, driven by gradual rollouts of new AI features across its product lineup.