Apple chief executive Tim Cook is due to visit India this week, as the US group trains its sights on a new source of growth amid flagging sales in China and developed markets.
Apple said its iPhone sales in India grew by 56 per cent from a year before in the first three months of 2016, as the company reported its first revenue decline for 13 years. “I view India as where China was maybe seven to 10 years ago,” Mr Cook told analysts last month. “There’s a really great opportunity there.”
Mr Cook is expected to meet Prime Minister Narendra Modi, according to a person with knowledge of the plans. Anticipation of that meeting has fuelled speculation that the government will mark Mr Cook’s visit by approving Apple’s recent application to open branded stores in India, granting an exception to tough restrictions on foreign-owned retail outlets.