Tata Group seems to be betting big on
Apple
products in the country. According to a report in Economic Times, Tata Group aims to open small exclusive Apple stores across the country. Apple is reportedly tying up with Tata-owned Infiniti Retail, which runs the Croma store chain, for the venture, says the report quoting people familiar with the development.
Infiniti Retail will become an Apple franchisee partner and aims to open 100 stores at malls as well as high-street neighbourhood locations. The Tata-Apple partnership comes as Apple is set to open its first-ever company-owned flagship store in Mumbai in the first quarter of 2023. The Apple-owned store has been in the works since the year 2019, and has been reportedly delayed due to a pandemic.
The report says that these Apple Authorised Reseller stores will be smaller than Apple Premium Reseller stores. The Apple Premium Reseller stores are typically more than 1,000 sq ft in area, these stores will be of 500-600 sq ft each. While the smaller stores will sell iPhones, iPads and Apple Watch. There will also be the larger format stores that will have the entire Apple range, including MacBooks computers. India currently has about 160 Apple Premium Reseller stores.
Apple iPhones sales in India on a record-setting spree
In the past two years, India has emerged as an important market for Apple. The company has reported best-ever performance in terms of sales since the past two years. In July this year, Cybermedia Research (CMR) reported that Apple had sold close to 1.2 million iPhones in the second quarter of 2022. This was around a whopping 94% growth year-on-year. CMR attributed the growth to the high volume sales of iPhone 12 and iPhone 13. And it won’t be a surprise to see those two iPhones topping the charts again.
During Apple’s recent quarterly earnings call, CEO Tim Cook revealed that the revenue from the iPhone grew 10% year over year compared to $42.6 billion. Cook further said that the iPhone's performance was “particularly” impressive” in emerging markets. Among those, Apple CEO said that India had set “a new all-time revenue record.” He added that the company set a quarterly record for “upgraders” — those who move from older iPhones to newer ones. Not only this, there was double-digit growth among “switchers” — those who move from Android to iPhone.
FAQs
Apple is reportedly tying up with Tata-owned Infiniti Retail, which runs the Croma store chain, for the venture, says the report quoting people familiar with the development. Infiniti Retail will become an Apple franchisee partner and aims to open 100 stores at malls as well as high-street neighbourhood locations.
Which Tata company tie up with Apple? ›
Designed by Apple, assembled by Tata: Wistron's exit opens new doors for iPhone in India. Tata Group is set to become India's first homegrown iPhone maker after agreeing to purchase Wistron Corp's iPhone assembly plant in southern India for $125 million.
What is Tata Group deal with iPhone? ›
Tata Electronics Pvt Ltd (TEPL), the Tata Group's manufacturing arm, is acquiring Wistron's operations in India for $125 million (Rs 1,000 crore). That will make it the first Indian company to manufacture Apple iPhones.
Is Tata Group bigger than Apple? ›
Apple has maintained its position as the dominant player in the premium smartphone market, holding a 71 per cent value share. From an Indian perspective, Tata Group was the only Indian brand among the top 100 most valued brands. Tata improved its ranking from 69th in 2023 to 64th in 2024.
Is Apple going to open more stores in India? ›
Apple plans to open new stores in Pune, Bengaluru, and Noida as part of its India expansion. The company aims to launch its premium mixed-reality headset, Apple Vision Pro, and continue growing its top-performing stores globally.
Which Indian company is working with Apple? ›
Tata Electronics is working with Apple to scale up its iPhone manufacturing facility in Koothanapalli, in Hosur, with an investment of Rs 50 bn, spread across 500 acres.
Which company rejected Tata? ›
Tata-Ford story
Tata was reportedly humiliated by Ford in that meeting, who said, "You do not know anything, why did you start the passenger car division at all.
Who owns Tata groups? ›
About 66% of the equity capital of Tata Sons is held by philanthropic trusts endowed by members of the Tata family. The biggest two of these trusts are the Sir Dorabji Tata Trust and Sir Ratan Tata Trust.
Where is Tata iPhone manufacturing? ›
Tata Group to manufacture India's first homegrown iPhone after buying Wistron plant near Bengaluru. In recent months, the Tata Group has also accelerated hiring in its factory in Hosur – where it produces iPhone components – and announced plans to launch 100 Apple stores in the country.
Who is Apple's manufacturing partner in India? ›
Apple has aggressively increased production of its flagship iPhone devices in India through Foxconn and Tata Electronics.
As of FY24-end, about $14 billion worth of iPhones were made in India, making up 14% of the global total. India produces iPhone models 12, 13, 14, and 15. Taiwan's Foxconn Technology Group, the world's largest contract manufacturer and the largest one for Apple, accounts for the lion's share of iPhones made in India.
Which is the most successful company in Tata Group? ›
Tata Motors overtakes TCS as group's most profitable firm after 10 years.
What is the net worth of Apple and Tata? ›
While Tata Group has a market value of $126 billion, Mukesh Ambani-led Reliance Industries is valued at $70 billion. Apple's market value currently stands at $789 billion.
Why is Apple moving to India? ›
Supply Chain is Diversified
Over reliance on China has exposed Apple to geopolitical and trade risks. Moving some of its manufacturing to India allows Apple to diversify its supply chain, reducing vulnerability to disruptions, such as trade tensions or natural disasters.
What is the future of Apple in India? ›
Apple plans to shift a significant portion of its supply chain from China to India, aiming to boost local employment by three-fold to around 500,000 in the next three years. The tech giant is focusing on increasing the value addition from its Indian suppliers, following a similar strategy implemented in China.
Is Apple successful in India? ›
Apple has achieved a new milestone in the Indian market. According to a report by Canalys, the Cupertino-based tech company achieved its highest shipment levels ever in the fourth quarter (Q4) 2023.
Which company has tied up with Apple in India? ›
Who are Apple's contract manufacturers in India? Foxconn, Pegatron, and Wistron manufacture 'end-to-end' phones in India. Tata is a newcomer to the Apple assembly line and has taken control of Wistron's operations. An electronics manufacturer.
What companies do Apple partner with? ›
Partners - Enterprise Consulting Solutions
- Accenture creates Apple solutions to transform how businesses work. ...
- Deloitte maximizes iPhone and iPad through enterprise expertise. ...
- IBM Services is transforming global business through custom mobile apps.
The Board of Directors of Tata Motors Limited (TML), Tata Capital Limited (TCL) and Tata Motors Finance Ltd (TMFL) have today approved a merger of TMFL with TCL through an NCLT scheme of arrangement.
Which company is associated with Tata? ›
- Technology. Tata Consultancy Services. TCS is a global leader in IT, digital and business services. ...
- Technology. Tata Elxsi. Tata Elxsi is amongst the world's leading providers of design and technology services for ... ...
- Steel. Tata Steel. ...
- Auto. Tata Motors. ...
- Auto. Jaguar Land Rover. ...
- Auto. Tata Autocomp Systems.
