Apple market growth has a pretty huge scope in the Indian market, says company CEO Tim Cook. Apple has laid down a few plans for India and Tim Cook is optimistic on them.
Apple Market Growth
India has always been a lucrative market place for many companies all over the world. And Apple market growth is looking at this option seriously. Apple’s tablet market share also sees India as a potential market. When the mobile phone market share is saturating the world over, tablets, especially the Apple products are still performing well.
The company CEO Tim Cook says that India is a populous country and that is why carries a big potential. From around six years from now, India will be the most populated country in the world and Apple market growth looks looming large. Another reason for this is that nearly half the Indian population is 25 years or even younger. So, this population can be targeted in the Indian smartphone market arm.
Speaking in a CNBC interview, Tim Cook said:
“This is another huge one. India will be the most populous country in the world in 2022. India today has about 50 per cent of their population at 25 years of age or younger. It’s a very young country. People really want smartphones there, really want smartphones.”
Mr. Cook said that there is still virtually zero penetration as far as LTE wireless connectivity is concerned. However, the boss is hopeful that once the LTE starts to roll out this very year, it will be a different picture for Apple market growth. Potential is indeed very huge, Mr. Cook added.
Apple market growth in China came down by 11% in the last quarter. China is the second biggest market for Apple after the United States. Indian smartphone market, however, saw sales go up 56% since the last year.