New Delhi:

iPhone maker Apple on Friday said it will open four more stores in India, located in Pune, Bengaluru, Delhi-NCR and Mumbai.

The company said it will also roll out its first-ever “made in India” iPhone 16 Pro and iPhone 16 Pro Max series devices this month.

“We’re thrilled to build our teams as we plan to open more stores in India because we’re inspired by the creativity and passion of our customers across this country. We can’t wait for them to have even more opportunities to discover and shop for our amazing products and services, and connect with our extraordinary, knowledgeable team members,” Apple’s senior Vice President of Retail, Deirdre O’Brien, said in a statement.

In April 2023, Apple opened its two stores in India, one in Delhi and the other in Mumbai.

“Future Apple Retail stores are planned in Bengaluru, Pune, Delhi-NCR and Mumbai,” the statement said.

According to people aware of the development, the stores are likely to be opened next year.

The company announced that it will now manufacture iPhone 16 series smartphones in India.

“Apple is now manufacturing the entire iPhone 16 lineup, including iPhone 16 Pro and iPhone 16 Pro Max, in India,” the statement said.

Apple began manufacturing the iPhone in India in 2017. “Manufactured in India iPhone 16 Pro and Pro Max will soon be available for our local customers and for export to select countries across the world,” the statement said. According to sources, supplies of the high-end, Made-in-India iPhone 16 Pro and Pro Max are expected to begin this month.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Tech giant Apple on Monday named insider Kevan Parekh as its chief financial officer, replacing company veteran Luca Maestri who will transition from the role on Jan. 1, 2025.

The leadership change comes ahead of Apple’s multiple product launch this fall season, which analysts have called the biggest software upgrade for the iPhone.

It includes artificial intelligence features, which are crucial for Apple as it looks to reverse a slowdown in global sales, particularly in China, and better compete with rivals who have rolled out AI upgrades.

Parekh, who has been with Apple for more than a decade and will join the company’s executive committee, most recently served as vice president of financial planning and analysis.

“It appears that the transition to the new CFO is planned and orderly, which is the most important question. Maestri staying on with Apple is also very important, as it removes the risk of financial questions,” D.A. Davidson analyst Gil Luria said.

“(Parekh) will need to continue the prudent capital management, but may also be tasked with restarting Apple’s exploration of complimentary acquisitions.”

Before Apple, Parekh held senior leadership roles at Thomson Reuters and General Motors.

Apple said Maestri will continue to lead the corporate services teams, including information systems and technology, information security and real estate and development, reporting to CEO Tim Cook.

During Maestri’s tenure, Apple more than doubled its revenue, with services revenue growing more than five times.

“Apple filling the role with an internal candidate should make the transition a bit smoother… any change of this magnitude does create some level of uncertainty, especially given the consistency and the history of execution from Maestri,” Piper Sandler analysts said in a note.

Earlier this month, Apple said its third-quarter iPhone sales were better than expected and forecast more gains as it bets on artificial intelligence to attract buyers, even as its overall China business disappointed.

In recent years, iPhone sales have slowed due to a lack of significant upgrades in newer models and competition from Android-based smartphone brands offering high-end specifications at lower prices.

At its developers conference in June, Apple announced a slew of AI features under the umbrella “Apple Intelligence”, including a revamped Siri and an integration with ChatGPT.

The iPhone maker’s shares were last down nearly 1% in extended trading.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)