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.”
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MacDailyNews Take: The red tape must be horrendous for Apple to be so far behind their store location goals in China.
Apple’s retail head Browett guides tour of new Beijing store, confirms upcoming Shenzhen store – October 18, 2012
Apple Store Wangfujing celebrates grand opening this Saturday; 3rd store in Beijing, 8th in China market – October 16, 2012