India can be the next China for Apple: Tim Cook

With iPhone sales growing at a fast clip in India, the last large untapped market globally, CEO Tim Cook is confident that he can turn the country into the next China for Apple.

As sales of the iconic iPhone continue to fall globally, India is emerging as a shining star for Apple. Sales of the flagship devices were up by 50 per cent year-on-year in the 12 months that ended September.

"Our iPhone sales in India were up over 50% in financial year 2016 compared to the prior year, and we believe we're just beginning to scratch the surface of this large and growing market opportunity," said Tim Cook, CEO of Apple, in its latest earnings call with investors on Wednesday.

While sales of the iPhone in India are still minuscule in comparison to that of China, a fast growing economy and massive youth population could help Apple develop it into a huge market. Moreover, with 4G infrastructure only bursting onto the scene in the past few months, sales of smartphones in India are expected to accelerate even further.

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Full text of Apple CEO Tim Cook's letter to Europe after $14.5 bn tax hit

Thirty-six years ago, long before introducing iPhone, iPod or even the Mac, Steve Jobs established Apple’s first operations in Europe. At the time, the company knew that in order to serve customers in Europe, it would need a base there. So, in October 1980, Apple opened a factory in Cork, Ireland with 60 employees.

At the time, Cork was suffering from high unemployment and extremely low economic investment. But Apple’s leaders saw a community rich with talent, and one they believed could accommodate growth if the company was fortunate enough to succeed.

We have operated continuously in Cork ever since, even through periods of uncertainty about our own business, and today we employ nearly 6,000 people across Ireland. The vast majority are still in Cork — including some of the very first employees — now performing a wide variety of functions as part of Apple’s global footprint. Countless multinational companies followed Apple by investing in Cork, and today the local economy is stronger than ever.

The success which has propelled Apple’s growth in Cork comes from innovative products that delight our customers. It has helped create and sustain more than 1.5 million jobs across Europe — jobs at Apple, jobs for hundreds of thousands of creative app developers who thrive on the App Store, and jobs with manufacturers read more..

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