India’s younger demographic and increasing disposable income with middle class has made India a favorite among investors. The US multinational technology Apple too wants its share in the mobile industry which is mainly dominated by cheaper companies such as Micromax, Xiaomi, etc.
To make its presence felt in the Indian market, Apple plans to open a technology development center in one of the Indian IT hub, city of Hyderabad. It will invest $25 million in the new 250,000-square-foot facility in Hyderabad which will house around 4,500 employees.
Apple right now stands at meagre 2% of Indian mobile market however it is the biggest player in the 4G market segment in India. The US giant has only 0.9 percent of India's growing Smartphone market. However, its previous year sales showed a 76% rise in the sales which is contrary to the dip in the iPhone sales in international market.
Cashing on this great opportunity Apple has recently applied for a single brand, retail license. So far, iPhones, iPads and Macs have only been available in India only through third-party sellers.
The new facility in Hyderabad aims to help the technology giant Apple in penetrating the domestic Indian market along with tapping on more Young IT minds of India.