Apple’s Tim Cook may visit India this week, meet PM Modi
Apple CEO Tim Cook will visit India this week and meet Prime Minister Narendra Modi, two sources familiar with the matter said on Monday.tech Updated: May 16, 2016 16:19 IST
Apple CEO Tim Cook will visit India this week and meet Prime Minister Narendra Modi, two sources familiar with the matter said on Monday.
His visit comes at a crucial time as Apple seeks new growth markets such as India after posting its first-ever decline in iPhone sales.
Cook, who is visiting China after announcing a $1 billion investment in Chinese ride-hailing app Didi Chuxing (formerly Didi Kaudi), will fly to India on Tuesday in his first official visit to the country as the head of the Cupertino based tech giant, one of the sources said.
The sources declined to be named as the plan is not public yet. Apple also declined to provide details of Cook’s schedule in India.
Apple is looking to set up its first retail outlet in India, where it only has about a 2% market share. But its sales there surged 56 percent in the first three months of this year, driven mainly by cheaper older-generation devices such as the iPhone 5S.
Earlier this month, India had rejected a plan by Apple to import used iPhones, in a blow to the world largest phone maker which had been seeking to revive sales of its flagship smartphones.
Apple sells what it calls refurbished iPhones at a discount in some countries, including the United States, and extending this practice to India would have likely helped it gain market share against competitors with much cheaper offerings.
India, which has been pushing a ‘Make in India’ initiative to enhance the competitiveness of its manufacturing industry, rejected the proposal citing rules against importing used electronics.
First Published: May 16, 2016 16:01 IST