Apple is set to expand its retail presence in India with the opening of a second store in Mumbai, which will be its sixth in the country. The announcement was made during Apple's earnings call for its fiscal 2026 first quarter, which ended on December 27, 2025.

CEO Tim Cook expressed enthusiasm about the company's growth in India, noting that Apple had achieved its best-ever results in retail during the quarter. He stated, "We were excited to open our fifth store in India in December, and have plans to open another store in Mumbai soon". Cook also highlighted the significant opportunity Apple sees in the Indian market, which he described as the second-largest smartphone market and the fourth-largest PC market globally. Despite a history of growth, Apple believes it still has a modest share in the market, with a majority of its customers being new to Apple products.

While Apple executives have not officially confirmed the location of the new Mumbai store, reports suggest it will be located in Oberoi Sky City Mall in Borivali, a suburb of Mumbai. Last year, Apple leased a 12,616 square feet space on the ground floor of the mall for an annual rent of ₹2.08 crore (₹17.35 lakh per month). The lease agreement, registered on May 28, 2025, spans 130 months (approximately 11 years) and includes a 15% rent escalation every three years. Apple has also reportedly paid a security deposit of ₹1.04 crore as part of the deal. The lease has a lock-in period of 10 years and 10 months from the commencement date.

Apple's expansion in India includes the opening of five stores across New Delhi, Bengaluru, Mumbai, Pune and Noida. The most recent store opened in Noida in December 2025, following the launch of stores in Bengaluru and Pune. In Bengaluru, Apple leased 8,000 square feet of space for 10 years at an annual rent of ₹2.09 crore.

Apple's retail strategy in India is part of a broader plan that includes manufacturing iPhones in the country since 2017, with the latest models now being produced domestically. This move aligns with Apple's efforts to shift iPhone manufacturing from China to India, aiming to capitalize on the growing smartphone market and export devices to the US, especially considering tariff changes.

Tim Cook emphasized the strong demand across Apple's products and services in India, driven by first-time buyers and an expanding installed base. He called the company's performance in India a "terrific" quarter and expressed excitement about the potential for further growth.