Apple to open 25 stores in China within the next two years

Apple CEO Tim Cook has confirmed that the company plans to open up 25 retail stores in China within the next two years. According to an interview transcript published on Chinese web portal Sina, Apple is looking to expand on its 15 outlets currently located in the country. Cook also recently visited a Foxconn factory in China.

Tim Cook previously touched on expansion plans in China back in May during Apple's earnings call:

We plan to triple the number of Apple Retail Stores [in China] over the next two years. We're continuing to expand in online. We're continuing to build out channels. We're up to 40,000 points of sales now in iPhone, but we're not nearly where we need to be on the rest of our product line and even the 40,000 is a low number in considering the broad landmass and the number of folks in China. And so, I feel like there's still loads of opportunity there, and feel really, really good about how we're doing.

Considering just how well the iPhone 6 and iPhone 6 Plus performed in China when pre-orders commenced, it makes sense for Apple to strengthen its presence in the region.

Source: Reuters

Rich Edmonds