We're focussing on India to tap huge opportunities: Tim Cook
2 May 2018 5:20 PM GMT
New York: Apple is bullish on India and plans to launch all its initiatives, including retail, in the country where it has an "extremely low" overall market share, the tech giant's CEO Tim Cook has said.
India, the third largest smartphone market in the world, has huge opportunities for Apple, Cook said.
"We have extremely low share in that market overall," Cook said during Apple's second quarter 2018 earnings call on Tuesday.
Cook said Apple was "putting a lot of energy" in India and working with the carriers in the market, and "they're investing enormously on the LTE (Long-Term Evolution) networks."
He noted that the infrastructure in India has come "quite a ways" since Apple began to put a lot of energy in the Indian market "because of their leadership and so forth." Cook said in India, Apple set a new first-half record. "So we continue to put great energy there and try to our objective over time is to go in there with all of our different initiatives from retail and everything else. And so we're working toward those things," he said.
Describing India as a "huge market", Cook said many people will be moving into the middle class over time in the country, referring to the tremendous consumer opportunity that presents to global companies.
Cook was asked if he feels the iPhone market is saturated and not much room is left for growth even as potential exists in emerging markets like India.
"I don't buy the view that market's saturated. I don't see that from a market point of view or and certainly not from an iPhone point of view," he replied.
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