Apple's India push is 'strategic poker move' that could boost revenues
nayuki
Apple (NASDAQ:AAPL) is making a concerted effort to push into the Indian market, one that investment firm Wedbush Securities believes could be a "strategic poker move" that could boost annual sales in the country to $20B by 2025.
Analyst Dan Ives, who has an outperform rating on Apple (AAPL), noted that Apple's (AAPL) move to open its first retail store in the country, set for this Tuesday, is a stark contrast to its previous modus operandi in the country, when it was "tepid" in its approach. Now, the Cupertino, California-based Apple (AAPL) is "aggressively" looking at India from both a production and retail expansion over the coming years.
"While India consumers have seen Samsung and Chinese players Xiaomi and vivo become the biggest players in the smartphone market within India, going forward Apple with price points across the board plan to take a page out of their historically successful China strategy in penetrating India over the coming years and unseating traditional competitors," Ives wrote in an investor note. 
The tech giant has been producing iPhone units in India since 2017, when it started with the iPhone SE.
Ives added that Apple (AAPL), which currently has less than 10% of the Indian smartphone market, the company is "unmatched" in both its marketing and brand and will likely see "incremental growth" in the market as it gets ready to launch the iPhone 15 later this year.
The note comes as Apple (AAPL) CEO Tim Cook is slated to meet with India's Prime Minister Narendra Modi amid the company's expansion into the country, Reuters reported, citing sources familiar with the situation.
Investment firm J.P. Morgan said last year that Apple (AAPL) could shift a quarter of its iPhone production to India by 2025.