(MENAFN- KNN India)
Mumbai, Nov 12 (KNN) Apple is strengthening its foothold in India by establishing a new research and development (R&D) subsidiary in the country.
Part of Apple's strategy to diversify beyond its reliance on China, this facility marks a significant expansion of the tech giant's R&D operations, which already span the U.S., China, Germany, and Israel.
The India-based R&D hub will focus on various functions, including research, design, testing, and supporting third-party manufacturers.
Industry insiders say this facility will deepen Apple's integration with India's manufacturing ecosystem and original equipment manufacturers (OEMs), ultimately enabling the company to create India-specific products and solutions.
Prabhu Ram, Vice President of the Industry Research Group at CyberMedia Research (CMR), emphasised India's potential to mirror the role China once played in Apple's growth.
"Key to this growth is not just retail and marketing, but also robust R&D operations. By focusing on India-centric R&D, Apple can fuel the next wave of innovation, catering to the aspirations of Indian consumers and beyond,” he told IANS.
Apple has accelerated its manufacturing plans in India and Vietnam, leveraging India's favourable business climate and local manufacturing policies.
Notably, Apple's 'Make in India' iPhones have recently set new export benchmarks, with FY23-24 exports surpassing USD 10 billion-up from USD 6.27 billion the previous fiscal year.
The company's overall India operations reached USD 23.5 billion last year, with USD 14 billion worth of iPhones assembled in India.
The company is also expanding its retail presence in India. During Apple's Q4 fiscal 2024 earnings call, CEO Tim Cook expressed excitement over the brand's growth in India, announcing plans to open four additional stores.
“We set an all-time revenue record in India and look forward to bringing four new stores to customers. We're passionate about education and believe technology can help inspire and educate,” said Cook.
With exports from India expected to exceed Rs 50,000 crore (over USD 6 billion) in the first half of FY25, Apple's Indian market and manufacturing base are primed to become integral to the company's global strategy.
(KNN Bureau)
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