Apple has confirmed that it will be opening a new development office in Hyderabad with over 150 employees. The company’s statement comes after news report had indicated the same.
The company announced today that it has invested $25 million in a new facility in Hyderabad, India. It hopes the 250,000-square-foot space will house 4,500 employees.
In an official statement, an Apple spokesperson said,
“We’ve been investing to expand our operations in India and are thrilled to have passionate customers and a vibrant developer community across the country. We are looking forward to opening a new development office in Hyderabad that will be home to over 150 Apple employees supporting maps development. The office will also have space for many contractors who will support our ambitious efforts locally.”
Jayesh Ranjan, IT secretary of Telangana, told ET while confirming the details of Apple’s investment that “MoU will be signed after some approvals come.”
Right now Apple captures only 2 percent of the Indian smartphone market while in the latest results announced by Apple, iPhone sales were up 76 percent in India for the quarter. The Cupertino, California-based tech giant also saw its India revenue rise by 38 percent.
Apple CEO Tim Cook said in the earnings call that the company plans to invest in India for a long term.
“India is incredibly exciting. It is one of the fastest growing economies, and is also the third largest smartphone market in the world, after China and US. In India, the median age for the population is 27, in China that’s nearly 36 years. I see the demographics there being incredibly great for a consumer brand, and for people that really want the best product,”
Cook had said.