Here’s why Apple is so excited about iPhone opportunities in India

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iPhone India
Apple is currently a bit-player, but it's poised to strike it big.
Photo: Ste Smith/Cult of Mac

Apple is constantly talking up the importance of India as a growth market, and a new report from Kantar Wordpanel illustrates exactly why that is.

According to the report, smartphone penetration hit a 48 percent growth rate in the first quarter of 2017. That’s considerably up from the 16 percent growth rate seen one year earlier. In a country with a population of more than 1.3 billion, that’s a massive target market!

Trouble in China, iPhone slump and other Apple earnings surprises

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How will investors respond to Apple's relatively flat earnings?
How will investors respond to Apple's relatively flat earnings?
Photo: Ste Smith

Apple’s Q2 earnings report for 2017 just barely beat Wall Street’s expectations when the numbers were revealed this afternoon, but there are plenty of reasons to still be optimistic about AAPL.

During the company’s call with investors today, Apple CEO Tim Cook and CFO Luca Maestri discussed some of the struggles the company experienced last quarter, from slumping iPhone sales to economic headwinds in China.

Here are the biggest takeaways:

Apple to open online store in India to sell iPhones

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india
Apple is doing all it can to grown in India.
Illustration: Cult of Mac

Apple will open an online store in India to start selling iPhones, which it may begin making locally within the next couple of week.

Selling iPhones it makes in India is Apple’s first big step in competing for market share in a country with rapidly growing smartphone sales.

Apple’s Indian App Accelerator is open for business

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iPhone India
Apple is pushing into the Indian market.
Photo: Ste Smith/Cult of Mac

Apple’s brand new App Accelerator in Bengaluru, India, is officially open for business!

Plans for the 40,000-square-foot office space were first announced by Tim Cook during his visit to India last year. The App Accelerator’s purpose is to offer guidance, inspiration, tutorials, and feedback to local developers building iOS, tvOS, watchOS, and Mac OS apps.

India won’t give in to Apple’s tax break demands

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India
Apple wants to dramatically improve its 2 percent share on the smartphone market in India.
Photo: Tim Cook/Twitter

Apple’s goal of snagging a sizable piece of the growing smartphone market in India may prove more expensive than hoped.

India’s Department of Revenue rebuffed Cupertino’s requests for 15 years’ worth of tax concessions to set up manufacturing facilities, according to published reports. The bad news comes a month before Apple is set to begin building the iPhone SE in that country.

Apple will build iPhones in India regardless of perks

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iPhone SE 7
Apple is keen to grow its market share in India.
Photo: Sam Mills/Cult of Mac

Apple is set to begin manufacturing iPhones in India whether or not it has received agreement from the government over proposed tax relief incentives, a new report claims.

The first iPhones to be assembled in India are said to be 300,000 – 400,000 iPhone SE models, which will be manufactured at a plant owned by Winstron in Karnataka, Bengaluru.

iPhone maker will spend $5 billion building factories in India

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iPhone India
Foxconn will spend big bucks in India.
Photo: Ste Smith/Cult of Mac

Apple supplier Foxconn has reconfirmed its intentions to build factories in India, with officials telling ministers from the state of Maharashtra that it will invest $5 billion building plants in the country.

Maharashtra Chief Minister Devendra Fadnavis is said to be working with Foxconn to help find suitable land in the state to fit the iPhone maker’s demands.

Apple renews bid to sell refurbished iPhones in India

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iPhone India
Apple wants to grow its brand in India.
Photo: Ste Smith/Cult of Mac

Apple wants the right to import and sell refurbished iPhones in India, according to a new report.

The company previously tried to roll out a similar scheme, only to have it squashed by a consortium of local smartphone OEM rivals. This time, however, Apple has the bargaining chip that it plans to manufacture iPhones in India working in its favor.