Apple to expand outlets in China
Source: Bloomberg News |
October 19, 2012, Friday
|
Print Edition
Print Edition
APPLE Inc will add two more stores in China as it expands sales outlets for iPhones and MacBooks in the world's largest market for computers and smartphones.
A new store will open tomorrow in Beijing's Wangfujing area, Apple said yesterday in a posting on its Chinese-language website.
The company will also unveil a store in Shenzhen, the hub where iPhones and iPads are made by Foxconn Technology Group, Apple spokeswoman Carolyn Wu said, quoting Apple's retail chief John Browett. She didn't announce a timeframe for that outlet.
The expansion comes after CEO Tim Cook said in March that he planned "even greater investment and growth" in China during a visit to the nation. Given the demand for its products, Apple "has the opportunity" to open 400-500 stores on the Chinese mainland during the next 15-20 years, Brian White, an analyst at Topeka Capital Markets in New York, wrote in report after a trip to China.
The Wangfujing store will be the California-based company's third in the Chinese capital and its largest retail store in Asia.
Including the new Shenzhen and Beijing locations, as well as three in Shanghai and one in Hong Kong, the company's eight stores in China are fewer than the 25 that former head of retail Ron Johnson projected in 2010 would be in operation by the end of this year. Johnson is now J.C. Penney Co's CEO.
The world's most-valuable company may also be constructing another store in Chengdu, White said.
A new store will open tomorrow in Beijing's Wangfujing area, Apple said yesterday in a posting on its Chinese-language website.
The company will also unveil a store in Shenzhen, the hub where iPhones and iPads are made by Foxconn Technology Group, Apple spokeswoman Carolyn Wu said, quoting Apple's retail chief John Browett. She didn't announce a timeframe for that outlet.
The expansion comes after CEO Tim Cook said in March that he planned "even greater investment and growth" in China during a visit to the nation. Given the demand for its products, Apple "has the opportunity" to open 400-500 stores on the Chinese mainland during the next 15-20 years, Brian White, an analyst at Topeka Capital Markets in New York, wrote in report after a trip to China.
The Wangfujing store will be the California-based company's third in the Chinese capital and its largest retail store in Asia.
Including the new Shenzhen and Beijing locations, as well as three in Shanghai and one in Hong Kong, the company's eight stores in China are fewer than the 25 that former head of retail Ron Johnson projected in 2010 would be in operation by the end of this year. Johnson is now J.C. Penney Co's CEO.
The world's most-valuable company may also be constructing another store in Chengdu, White said.
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