Apple CEO Tim Cook thinks there is a huge market potential for the brand’s products in India and is planning to pour more energy into developing its standing in the country. His remarks come after the company’s shoddy performance over the last year which saw its profits fall drastically.
Cook made the remarks in an interview with CNBC. According to him, India is a young country with over 50% of its population aged below 25. It’s also set to be the most populated country on the planet by 2022. He believes that Apple’s reach within the nation has been small since LTE penetration here is at 0%.
He thinks this dynamic will change as 4G networks become more common across the country. Cook went to claim that Apple has got some great innovation up its sleeve when it comes to future iPhones which will attract people in countries like India. The iPhone SE, its last attempt at cracking the local market, has proven to be a major flop here.
Also Read: Apple iPhone faces its worst sales quarter ever
As per PTI, he also talked about the unique challenges which Apple faces in India such as the fact that carriers don’t sell phones in the subcontinent, a common practice in the US. iPhone sales have grown by 56% here compared to a year ago, a positive sign for the company especially seeing as how its sales have fallen by 11% in China.
Cook had previously stated that India’s market is where China was 7 to 10 years ago. Network infrastructure and retail remain its top challenges in the nation.