After a grand launch of its first two retail stores in India in April, iPhone maker Apple is in discussions to open three new store in India over the next four years, according to a Bloomberg report.

Apple, world's biggest company by market capitalisation opened its first flagship retail store in Mumbai on April 18 followed by a second outlet in Delhi two days later.

The company is now discussing opening a third store in India in 2025, which is likely to be in the suburban area of Borivali, according to the report. A fourth location, slated for 2026, is proposed to be in the works in New Delhi, at the DLF Promenade mall. This store could become the second-largest Apple store in the country after the BKC outlet. In 2027, the company looks to add a fifth location in India near the Worli seaside area.

The proposed stores are part of Apple's global expansion plans with a key focus on the Asia-Pacific. India has emerged as a key geography for the company over the last few years. Nearly a third or $130 billion of Apple's revenue in 2022 came from the Asia Pacific. The company also plans to open stores in China, Japan, Europe, and the UAE.

Apple's two India stores are bearing fruit for the company. A report in the Economic Times stated that the two newly launched stores have grossed monthly sales between Rs 22-25 crore each, which is more than double of what could be the highest revenue for an electronics store in India during non-festive months.

In US Dollar terms, a regular Apple store generates more than $40 million in annual revenue, while Apple+ stores, flagship stores and flagship+ stores generate $45 million, $75 million, and $100 million annually, according to the Bloomberg report.

Apple CEO Tim Cook singled out India in May as pivotal for the company as the country is on the verge of becoming both a major market as well as a production base. Data shows that Cook mentioned India nearly 20 times on the earnings call after reporting record sales for a March quarter in India.

“There are lot of people coming into the middle class and I really feel that India is at a tipping point,” Cook told analysts on the call. “And the dynamism in the market. The vibrancy is unbelievable.” Bloomberg reported that Apple posted nearly $6 billion in sales in India for financial year 2023.

In other news, Apple is likely to reveal a new mixed reality headset, new MacBooks and iOS 17 at the Worldwide Developers Conference (WWDC) on June 5.

(With Inputs From Agencies.)