Why India is so important to Apple
Summary
India is the largest market that the iPhone hasnt fully cracked, meaning it is critical for sales growth. Industry analyst IDC estimated in February that the average selling price of a smartphone in India is $224, which had increased 18% in 2022. Nearly all iPhones are currently assembled in China, which has caused some problems over the past five years, starting with trade tensions and possible tariffs during the Trump administration, and extending to more recent supply chain disruptions caused by Covid and Chinas Covid policies, which led to sales shortfalls. In another parallel to China, the Indian government is eager to embrace Apple and use it as a symbol to attract other high tech firms to the country for manufacturing and development. Apples long-term strategy in India is best summarized by a quote Cook gave to local media during his 2016 trip to the subcontinent.
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