Tim Cook to Visit Indian PM, Apple Stores Planned for 2016-17
Citing people familiar with the matter, Times of India reports that Tim Cook will travel to India to meet Prime Minister Narendra Modi. This will be his first official visit to the country as Apple CEO. Other sources say Apple plans to open three stores in the country by the end of 2017.
Cook’s visit to India comes at a time when Apple is seeking new growth markets. Exact details of his visit are not public, as the company declined to comment on the schedule.
Sources speaking with Factor Daily (via 9to5Mac) say Apple plans to open three retail stores in India within the next 18 months: in Delhi, Bangalore, and Mumbai. The stores will be spread across 10,000 square-feet and be located at high-street locations.
The three stores will be the result of a $3 million to $5 million investment each, the source close the company informed Factor Daily.
Also, later this week, Apple will unveil a start-up accelerator in India, a company first in the country with the aim of incubating app ideas. The source says Apple’s application for government permission for the App Store had been made last year and that “plans on that front were a matter of routine”.