CHINA TOPIX

11/22/2024 04:09:45 am

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Apple Looks to Add 25 New Stores In China By 2016

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(Photo : Reuters) Tim Cook has expressed a desire to have more Apple Stores inside China, looking to add another 25 in the next two years.

Apple Inc. (AAPL) is reportedly looking to add 25 new Apple Stores in China. In an interview with Chinese media outlets, Apple CEO Tim Cook said the company hopes to bring its total number of stores in China to 40.

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"We're investing like crazy in the market," Cook said earlier this week during a conference call regarding the company's fourth-quarter earnings. "When I look at China, I see an enormous market where there are more people graduating into the middle class than any nation on Earth in history."

The 25 new Apple Stores should open up within the next two years. Cook did not say where the stores would be based, although there are some prime spots Apple has not touched yet, which could bring them millions of potential customers.

Apple is seen as one of the premier brands in China, as it is worldwide. Just this week,  more than 15 million iPhone 6 and iPhone 6 Pluses were sold in China alone, making it the dominant market for iPhone sales.

Having more of a presence in China might make Chinese buyers think twice about their local smartphone and tablet manufacturers, Lenovo, ZTE and Xiaomi.

Cook has met with the Chinese Vice Premier Mi Kai, to discuss user security, after attacks in iCloud hit the national media. Cook will also meet with Facebook's CEO Mark Zuckerberg and other technology leaders, who are all touring Beijing. 

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