Tim Cook recently addressed a question from a shareholder about India’s retail strategy at an annual shareholder meeting at Apple Park on Wednesday. It will launch the first physical Apple Retail Outlet Store in India in 2021, in Tim Cook’s reaction.
Apple CEO Tim Cook told shareholders that making the first self-owned platform for the iPhone maker is a major business opportunity.
India’s government has lost its criteria for local sources, which is a prerequisite for foreign firms like Apple to do business directly in the country. One major rule change in Apple’s favor is to require exports to count against the 30 percent local sourcing rule that covers any iPhones or other goods that are manufactured locally in the country by Foxconn or Wistron and exported to other territories. So far Apple has had to rely on a network of third-party resellers to sell their iPhones in the country without representation from the first party.
The store owned by non-Indan companies has created problems over government restrictions with the development of an Apple outlet forcing the retail partnerships. For another explanation, Tim Cook suggests opening its own store, “I don’t want someone else to run the brand for us.” “We wouldn’t be a very good retail partner,” Tim Cook said in the response to a question about India. “We like doing things the way we do.”
