Business / Apple CEO Tim Cook says India challenging market in short term

The Indian Express : May 01, 2019, 09:50 AM

Apple CEO Tim Cook has said the pricing adjustments in India has resulted in “preliminarily some better results”, but it was not going to be easy in the short-term. Cook said while India is a very important market in long-term it is also a very challenging market in the short-term. The Apple CEO said the company plans on “going in there with sort of all of our might”. India’s policy on single brand retail makes tough

Apple CEO Tim Cook has said the pricing adjustments in India has resulted in “preliminarily some better results”, but it was not going to be easy in the short-term. Speaking to analysts and reporters after the Q2 results where Apple showed quarterly revenue of $58 billion, a decline of 5 per cent from the year-ago quarter, Cook said while India is a very important market in the long-term it is also a very challenging market in the short-term.

“But we are learning a lot. We have started manufacturing there (in India) which is very important to be able to serve the market in a reasonable way,” Cook said, adding how Apple was growing this capability in India.

Cook said he would “like to place retail stores there” and is “working with the government to seek approval to do that”. The Apple CEO said the company plans on “going in there with sort of all of our might”. India’s policy on single brand retail makes it tough for Apple Stores to be set up in the country.

Cook also spoke about the developer accelerator in Bengaluru and said he was “happy with some of the things coming out of there”.