Apple CEO will visit india soon to meet Modi

Apple's CEO Tim Cook will visit to India this week,his first visit to the country since he took over that position at the iconic Cupertino-headquartered company, and will meet PM Narendra Modi over the weekend. A government official has confirmed that a meeting between Cook and Modi has been fixed for Saturday, May 21. Cook’s visit comes at a crucial time as Apple looks for new growth markets after posting its first ever decline in iPhone sales, and as India has denied it permission to sell refurbished phones. The visit is Cook’s first to India as the head of the US technology company, one of the sources said. Apple is looking to make India as a market that will offset declining iPhone sales elsewhere, a trend which surfaced in the January-March quarter of this year. Sales in China, fell 11% in the latest quarter; in India, however, iPhone sales were up 56% from a year ago, notwithstanding it's tiny share of the smartphone market here due to the high prices of its devices. Nine out of 10 smartphones sold in India cost between Rs 5,000 and Rs 15,000, whereas Apple's cheapest smartphone - iPhone SE - was launched in the country at Rs 39,000. Describing India's potential, Cook, in a conference call with investors, said: "Because the smartphones that are working there (India) are low end, primarily because of the network and the economics, the market potential has not been as great. But I view India where China was seven to 10 years ago. From that point of view, I think there's a really great opportunity there." Despite a slowdown in smartphone sales globally, in the first three months of 2016, sales of smartphones in India grew 23% to 24.9 million units.

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