Tim Cook, CEO – Apple Inc. (NASDAQ:AAPL), is on the visit to ‘green pastures’ aka India and China. The itinerary of his visit include a meeting with India’s Prime Minister Narendra Modi and setting up a start-up accelerator in India to increase the contribution of iOS developers in blooming start-up industry in India.
Apple is planning to set-up a state of the art Design and Development Accelerator in India’s Silicon Valley Bengaluru by early 2017. The humble initiative by Apple will help and support the developers’ community in India to spread its wings beyond the borders. Bengaluru is already known as the hub of budding startups and according to the Cupertino giant the initiative is focused on strengthening the iOS app developer community.
This initiative may prove to be the ‘once in a lifetime opportunity’ for the vibrant developers community in India. A ‘dream come true moment’ for the developers as they will be assisted and taught by Apple’s team and experts. Apart from that, the developers will be taught Swift Language by the experts, which is the prime requirement for developing apps for iOS.
Cook once said in a statement that,” India is home to one of the most vibrant and entrepreneurial iOS development communities in the world. With the opening of this new facility in Bengaluru, We’re giving developers access to tools which will help them create innovative apps for customers around the world.”
The need of the hour for Apple
Apple fiscal Q2 2013 revenue slumped and alongside its flagship iPhone sales were also failed to meet market expectations. Citing the need of the hour, Apple is searching for new geographies to boost its slumpings sales. Just a few days back it is reported that Apple is investing a whopping $1 billion in China’s private car service honcho, DiDi Chuxing. According to Telecom Minister Ravi Shaker Prasad, Apple is also exploring investment opportunities in electronics segment in India.
Apple is viewing India as its ‘hen that lays golden eggs’. The company recorded a 56% YoY growth in iPhone sales in its fiscal Q2 2016, however, its market share in India is still hovering at just 2%. To strengthen its market presence in India, the company boosted its efforts to get approval for refurbished iPhone sales. The Indian government, however, instructed Apple to refrain from selling refurbished iPhones in the country. The Tim Cook’s visit may include the agenda to remove the ban which will help Apple to garner its iPhone sales considering price sensitive mentality of Indian consumers.
Apple Wants to Hone in on Flourishing Startup Scenario in India
The Cupertino giant is investing a huge sum of money in a number of start-ups and improving its own infrastructure outside the US. Apple’s investment initiatives are being considered as an efforts to safeguard its own future existence and diversify beyond their flagship products. A year ago the company invested a whopping $1.91 billion (1.7 billion euros) in building new Data Centers in Europe to empower its online services. Later that year Apple announced its green initiative in China to promote environmentally friendly ways of manufacturing and, in turn, help to kerb the pollution.his may also The start-up scenario in India is flourishing as a number of start-ups are attracting the investors by their cutting-edge products and services. As of 2015, 1,096 deals were finalised and the budding startups managed to accumulate
The start-up scenario in India is flourishing as a number of start-ups are attracting the investors by their cutting-edge products and services. As of 2015, 1,096 deals were finalised and the budding startups managed to accumulate $5.5 billion (Rs. 36,000 crores) from a number of Venture capitalists and angel investors. However, this is just a pinch of a salt; Considering the low penetration of smartphone and internet, India possesses an enormous opportunity for entrepreneurs. By garnering developers for the future opportunities through its Accelerator Program, Apple would be having an early access to future investment opportunities.