Apple CEO Tim Cook will be visiting India on Tuesday to meet Prime Minister Narendra Modi. Cook is expected to utilize this trip to announce several of company’s plans for the nation, according to CNET.
In his first visit to India, Cook will be visiting multiple cities. During his stay, he’s expected to announce a startup accelerator program in India with an aim to foster development of iOS apps, according to the Economic Times.
It’s also rumored that the company will open three Apple Stores throughout the country within the next 18 months, one each in Delhi, Bangalore and Mumbai. However, CNET saysthat this information hasn’t come from an official source.
Global Equities Research analyst Trip Chowdhry says India could change the sentiment in Apple stock. He views India as very under-penetrated for Apple with only ~$1 billion in revenues for fiscal year 2015.
Chowdry expects Cook to meet execs from all major India telecoms. He adds that Apple is creating a 1 million square foot development center in Hydrabad and will probably start manufacturing some iPhones in the country within 18 months.
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