Trebel investment1/8/2024 ![]() ![]() Cook on Thursday inaugurated an Apple store in New Delhi, after opening its first outlet in Mumbai. The firm started manufacturing iPhones in India in 2017, with iPhone SE, now making all the advanced iPhones. As per reports, Foxconn may add two more buildings at its site near Chennai and is looking to establish a research and development centre in Bengaluru’s Whitefield. Last month, Foxconn CEO Young Liu spent a week in India and explored expansion opportunities. In India, it has a market share of 3-5% and has three vendors - Foxconn, Wistron Corp and Pegatron Corp - to manufacture its products. These issues include the shutdown of plants and tension between the US and Chinese governments. The iPhone maker faced several manufacturing issues in China, which still produces 85% of iPhones. It is in the process of enhancing its production capacity in India, which is currently about 5-7% of its total production. Cook met Prime Minister Narendra Modi on Wednesday and pledged to expand and invest across the county. The minister said he is confident that the Apple-India partnership has a lot of headroom for investments, growth, exports and jobs – doubling and tripling over the coming years. Cook is in India to unveil its first two retail stores in the country. “It’s all about getting the word out,” Mekikian says.NEW DELHI: Apple may double or treble its investment in India and exports from the country in the next few years, said Minister of state for Electronics and Information Technology (MeitY) Rajeev Chandrasekhar after a meeting with Apple CEO Tim Cook. He hopes investors from all around the world will become brand ambassadors for TREBEL, using its service and evangelising its benefits to their friends and families. “We think we’re ready for our next phase of growth,” Mekikian says – hence the securities issue. It’s a strong start – but in the context of a global addressable market in the billions, there is plenty of potential for expansion. Since the launch of the app in its fully-fledged form in 2019, TREBEL has picked up around 5 million active users, while continuing to test its model and trial new features. In many of these markets, smartphone penetration is high, but disposable incomes lag those in advanced economies, limiting the number of people for whom subscription-based music services are an option.Ĭustomer growth has been rapid. ![]() ![]() Mekikian sees the world’s emerging economies as particularly good options for the company and is now planning launches across South-East Asia, beginning with Indonesia. TREBEL has started out in North America, targeting the US and, in particular, Mexico, where it has overtaken Spotify as the number one app in Mexico's Google Play store in the free music category. It’s a compelling pitch that appears to be capturing listeners’ imagination. “Why should the only option for kids who can’t pay be these sinister online operators that may not be safe - and which are definitely not rewarding the artists that listeners love.” “For many young people in particular, music isn’t something that’s optional – it’s as crucial to them as air and water,” Mekikian says. ![]() It’s not credible to think people aren’t going to use these sites to access the music they love, he says, unless you give them an alternative that is free, but legal. Mekikian believes TREBEL will take many people away from illicit websites that offer pirated music. Some people have been monetising this audience – just not in a legal way. “We’re monetising people who have not previously been monetised.” “The labels have been very welcoming, because we’re effectively a new revenue stream for the artists,” Mekikian says. ![]()
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