Apple plans to open 25more stores in China: TimCook

Apple CEO Tim Cook has just announced that
the company is opening 25 more retail stores
in China in the next two years, adding to the
15 stores in the country.
Despite security concerns, Apple sees China
as a potentially lucrative market. At present,
15 percent of the company’s revenues are
earned in Greater China, which has an
incredibly large consumer electronics
industry.
“We’re investing like crazy in the market,”
said Cook. “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.”
While in China, Cook also toured the Foxconn
Technology factory in Zhengzhou where he
met workers who are credited for assembling
the iPhone.
“Great to meet talented people like Zhang Fan,
who helps make iPhone 6 in Zhengzhou. An
early highlight of this trip,” tweeted Cook.
In 2008, Apple opened its first retail store in
Beijing. The Apple Store on Wangfujing Street,
a famous shopping district, is the company’s
third store in the city. The three-story building
currently holds the title as the largest store in
Asia.
As of August this year, Apple has a total of
435 retail stores worldwide. These are found
in 16 different countries. The online store, on
the other hand, is available in 43 countries.
The company’s goal is to serve “every
customer in every city.” Other major locations
in China include Chongqing, Shenzhen and
Shanghai.
Apple has been expanding its presence in the
region over the past few years. Along with
increasing the number of its retail stores,
Apple has also been successful in striking a
deal with China Mobile, the country’s biggest
carrier.
Being a member of the School of Economics
and Management’s advisory council, Cook
was slated to attend meetings with other
global business leaders at the Tsinghua
University on Oct. 24.
Moreover, the company has held several
meetings with the nation’s government
officials to exchange talks on market growth.
Cook met China’s Vice Minister Ma Kai on
Oct. 22. The two shared views on
“strengthening cooperation” and “protection of
users’ information.”
Cook is also said to have a meeting with
Chinese firms Alibaba and Baidu in the
coming week to discuss future collaborations.

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