Apple to set-up technology development center in India
India: Hyderabad, one of the
prominent cities in India has been working as a magnet to attract the top
technology giants which include Google and Microsoft. Now, the city has gained
the attention of the premium mobile phone manufacturer Apple Inc.
Apple has planned to invest US$ 25 Million
to set-up its first technology development center outside the US. Apple center will
occupy 250,000 square feet space in Tishman Speyer's WaveRock facility and is
planned to be operational by second half of this year.
The new facility will create around
4,500 job opportunities in Indian market.
Hyderabad is a metropolitan city of
India located in Telangana state. Apple followed Google and Microsoft in terms
of investing in the state. Last year in December, Sundar Pichai announced to
open the South Asia’s biggest campus in Hyderabad; and Microsoft plans to
expand its operations in the state.
According to TechSci Research, India is
being the key focus market for smartphone players. Lately, Apple has also
witnessed the sea change in the Indian smartphone market. With the shift in
consumer preference and increasing high disposable income; Apple has reported
38% surge in its revenue from India during October-December period; above 11%
growth in overall emerging markets.
Further, Apple iPhone sales in volume
terms grew 76% in India compared with 45% in the Middle East and Africa, Korea;
18% in mainland China; 20% in various western European countries.
The company has also applied for ‘Single Brand
Retail License’ that will enable Apple to open its stores in India.