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Apple CEO Sees India At "Tipping Point" As China Pivot Quickens
Apple Inc chief Tim Cook singled out India on Thursday as pivotal for the iPhone maker, underscoring how the world's most populous country is on the cusp of becoming both a major market and production base. Cook, who presided over the opening of Apple's first two Indian retail outlets last month, joined his lieutenants in mentioning India roughly 20 times on an conference call after unveiling earnings. The company posted record sales for a March quarter in India, reflecting its increasing reliance on the market to galvanize overall growth. Apple seeks to accelerate growth in a country of 1.4 billion where rising incomes are boosting consumer spending, at a time smartphone sales are plateauing elsewhere in the world. It's also keen to tap an immense labour pool. Apple is exploring ways to reduce its reliance on China as tensions between Washington and Beijing continue to escalate. Source: NDTV
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