Cupertino based tech giant, Apple, appears to be ever so closer to enforcing a shift in strategy for India. After the company’s latest earning’s call, Apple’s CEO Tim Cook spoke to journalists and while answering questions claimed that the company may look to revisit its pricing strategy for India based on the results seen after the recent price revisions of some of its popular phones being sold in the country.
Tim Cook claims the price correction of some of its iPhone models in India has led to better sales. However, what will be even more heartening for Indian buyers are the comments that he made after that. Apple’s CEO went on to add that because of the success of the price corrections, Apple is now looking at the findings from the exercise and will use the learning to frame its future pricing strategy in the Indian market.
Cook, responding to a question from JP Morgan about the learnings from the brand’s recent shift in pricing in India said, “Everything that we do, does advise everything we do in the future so we try to learn the best we can and fold that into our thinking. And we’ll obviously do that with this as well.”
He also went on to reaffirm Apple’s long-held stance that India is a major market for it, which despite its short term volatilities, is one of extreme importance in the long run.
“It’s a long-term play (in India). It’s (India) not something that’s going to be on overnight huge business. But I think the growth potential is phenomenal. It doesn’t bother me that it’s primarily Android business at the moment because that just means there’s a lot of opportunity there,” he added.
He also explained that as part of the long term strategy for India, the company is looking to get itself deeper into the market. “We have started manufacturing there which is very important to be able to serve the market in a reasonable way. And we’re growing that capability there,” he said.
Speaking to journalists, Cook also claimed that the company is moving ever so closer to opening retail stores in India, post which it plans to shift all its focus to the world’s fastest-growing smartphone market. “We would like to place retail stores there. And we’re working with the government to seek approval to do that. And so, we plan on going in there with sort of all of our might.”―Times Now