Apple to add two China retail stores as CEO Cook seeks growth

“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,” Bloomberg News reports. “A new store will open Oct. 20 in Beijing’s Wangfujing area, Apple said in a posting on its Chinese-language website. The company will also unveil a store in the southern city of Shenzhen, the hub where iPhones and iPads are made by Foxconn Technology Group, Apple spokeswoman Carolyn Wu said in a phone interview, citing Apple’s retail chief John Browett as saying. She didn’t announce a timeframe for that outlet.”

Bloomberg reports, “The expansion comes after Chief Executive Officer Tim Cook said in March 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 in mainland China during the next 15 to 20 years, Brian White, an analyst at Topeka Capital Markets in New York, wrote in an Oct. 14 report after a trip to China.”

Bloomberg reports, “Including the new Shenzhen and Beijing locations, as well as three in Shanghai and two in Hong Kong, the company’s nine stores in Greater 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.”

Read more in the full article here.

MacDailyNews Take: The red tape must be horrendous for Apple to be so far behind their store location goals in China.

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Apple Store Wangfujing celebrates grand opening this Saturday; 3rd store in Beijing, 8th in China market – October 16, 2012