3 charts show Apple's risks and opportunities in India

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Tim Cook is bullish on India being the new China for Apple. These 3 charts show there's a long way to go.

The Mumbai store opening attractedas customers stopped to take selfies with CEO Tim Cook and present him with vintage Apple devices."The energy, creativity, and passion in Mumbai is incredible!" he wrote onIndia has been a somewhat elusive market for Apple. Cook has been"

When the government relaxed this clause slightly in 2018, this finally allowed Apple to start planning for a physical store — but development paused due to the COVID-19 outbreak, he added. Android phones remain the devices of choice for the Indian population, thanks to a wide range of choice and how cheap they can be. Apple devices remain the preserve of a minority — likely the country's ultra wealthy.In 2022, Apple beat out Android to claim more than half of the smartphone market for the first time in the US, according toIn the same year, Apple only took 6% of the market share in India compared to Android's 94%.

Not only does China boast more billionaires than India, but the country also has a much bigger growing middle class.

 

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