Apple to open third store in India at Bengaluru’s Phoenix Mall of Asia

Apple has reportedly signed a lease for its third retail store in India, securing 8,000 sq ft of space at Bengaluru’s Phoenix Mall of Asia, according to Business Standard (via 9to5Mac). The new outlet will sit alongside Apple’s 20,800 sq ft flagship at Jio World Drive in Mumbai’s Bandra Kurla Complex and its 8,000 sq ft store at Select Citywalk Mall in Delhi’s Saket.

Lease documents show Apple will pay an annual rent of ₹2.09 crore (about $245,000) and a monthly rent of ₹17.4 lakh (around $20,400). On top of that, the company will remit 2 percent of gross revenue to the landlord for the first three years, rising to 2.5 percent thereafter.

This opening dovetails with Apple’s broader India strategy, where it began assembling iPhones domestically in 2017 and has since brought models up to the iPhone 16 Pro and Pro Max into production. A recent Bloomberg report notes Apple aims to double its Indian output to 80 million units by 2026—both to meet rising local demand and to export to markets like the US amid shifting tariff policies and supply-chain diversification.