The most populous country in the world, India has a growing middle class that could prove to be a boon for Apple.
“China took probably five years before it really mattered,” Munster explained. “India probably takes 10 years, and the reason is they’ve got the population on their side, but the GDP per capita is about a quarter in India what it is in China. And so just in general, people don’t have … the same wealth in India as they do in China.”
Apple opened its first official store in India last year, with Cook himself kicking off the festivities for the Mumbai location. Apple also builds some of its latest iPhones in the country, making it even more important for the company.