How Apple's first store in India benefits the richest person in Asia
India is poised to soon overtake China as the country with the world's largest population (with some sources saying it might have already happened). And this seems to have caught the attention of the world's most valuable company - Apple - which opened its first two India stores this month in Mumbai and New Delhi (India's financial and political capitals, respectively). Apple BKC at Jio World Drive in Mumbai Apple has long been trying to open its own stores in India, as it aims to capture a larger share of the world's fastest growing smartphone market. The company is already a leader in the country's premium smartphone segment (>INR 30,000) and its India sales grew by nearly 50% year-over-year in March 2023, touching almost $6 billion. Apple has also increased its production of iPhones in India, which now accounts for 7% of its total iPhone production (up from just 1% in 2021). The company assembled $7 billion worth of iPhones in India during the last fiscal year...