Apple's WWDC 2023 is Underway This Week
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Expected earnings for Apple in the second quarter of 2023 in India alone are projected at $7B. The new store in Mumbai will be the first of many. Additional stores are expected in Bengaluru in Karnataka, known as a significant tech hub and several other destinations. In addition, Apple has moved some manufacturing from China to India, enabling direct iPhone production in the country and supported by its long-time provider, Foxconn.
Apple CEO Tim Cook (right) talking with executives in India
In conjunction with Foxconn’s investment of $1B, Apple begins iPhone production plans in Bengaluru, India with the goal of moving major manufacturing out of China. The country has also attracted investment from Boeing for production processes.