Mumbai/Cupertino: Apple’s India retail push is set to widen. On its fiscal Q1 2026 earnings call, CEO Tim Cook confirmed that the company plans to open another store in Mumbai “soon,” after Apple posted its best-ever quarterly results globally and a record December-quarter performance in India.
The New Store: What We Know
- Confirmed: Apple plans to open a second store in Mumbai “soon.”
- Not confirmed: Apple has not announced the exact location of the upcoming Mumbai store.
- Reported (unverified by Apple): Multiple reports have linked the second Mumbai store to a lease at Oberoi Sky City Mall in Borivali. Treat this as reported until Apple formally announces the site.
Where This Fits in Apple’s India Store Network
Apple currently has five official retail stores in India. The Mumbai store, once opened, would become Apple’s sixth store in the country.
Existing Apple Stores in India (official):
- Apple BKC (opened April 2023) — Mumbai
- Apple Saket (opened April 2023) — Delhi
- Apple Hebbal (opened September 2025) — Bengaluru
- Apple Koregaon Park (opened September 2025) — Pune
- Apple Noida (opened December 2025) — Noida
“Terrific Quarter” in India: What Apple Reported
Cook said Apple had “a terrific quarter in India,” with:
- A quarterly revenue record in India (December quarter)
- Quarterly revenue records in India for iPhone, Mac, and iPad
- An all-time Services revenue record in India
- A key market signal: the majority of customers buying iPhone, Mac, iPad and Watch in India were new to those products
Budget 2026–27: What Changed for Manufacturing and Why It Matters (tightened)
In the Union Budget 2026–27, the government proposed a 5-year income-tax exemption (effective when the New Income Tax Act, 2025 begins in April 2026, and applicable up to tax year 2030–31) for a foreign company on income arising from providing capital goods, equipment or tooling to an Indian contract manufacturer producing electronic goods located in a custom-bonded area.
A report by Reuters framed this as removing a major tax-risk concern often discussed as “business connection” exposure when foreign firms fund high-end manufacturing equipment for Indian contract manufacturers in customs-bonded zones.
Why This Matters To You
- For shoppers: A second store in Mumbai can reduce travel time for hands-on demos, upgrades, and service appointments compared to relying on a single city store.
- For the market: Apple’s “new-to-product” buyer trend suggests there’s still headroom for ecosystem growth in India.
Key Highlights
| Feature | Details |
|---|---|
| 📍 New Store | Mumbai (location not announced; Borivali/Oberoi Sky City reported) |
| 🚀 Growth | Strong double-digit revenue growth; India December-quarter revenue record |
| 👥 Users | Majority of key product buyers in India were new to those products |
| 🏭 Policy | Budget proposes 5-year exemption (effective from April 2026; up to tax year 2030–31) for a foreign company’s income from supplying capital goods/equipment/tooling to an Indian contract manufacturer of electronic goods in a custom-bonded area |
Frequently Asked Questions (FAQs)
A: Apple has not shared a date. Tim Cook only said the store will open “soon.”
A: No. Apple did not confirm the site, even as reports have pointed to a Borivali lease at Oberoi Sky City Mall. Treat Borivali as reported until Apple’s official announcement.
A: Apple hasn’t published a store-count target. But it has steadily expanded since 2023 and recently opened its fifth store (Noida) while confirming another Mumbai store is coming.
A: No. Apple discussed strong performance in India and iPhone revenue records in-country, but it does not provide India model-by-model sales numbers in its standard disclosures.
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