Apple Store: Apple company is preparing to open its eighth store in Shanghai. However, iPhone sales are declining in China. After America, the company wants to make China a part of its largest retail network. The upcoming store which is being built in the heart of the city will open for public on March 21. Apple has 47 stores in the country with a population of 1.4 billion.
Apple has been witnessing a decline in iPhone sales in China since the launch of the new model in September. However, China has the world's largest number of smartphone users, making the country an important market for mobile companies.
Retail store expansion, Apple's new plan
Apple's recently opened Shanghai store is being seen as a massive expansion of the company. According to a report published in Bloomberg in June, the company is planning to open dozens of new stores in the next few years. Last year, Apple Company had said that it is working on expanding its retail stores. The company also said that it wants to expand its presence in China and other parts of Asia while improving its stores in the US and Europe.
By 2027, the company plans to open 15 new stores in Asia, five locations in Europe and the Middle East, and four additional outlets in the US and Canada. Additionally, Apple has also set a target of opening nine new stores in Europe and 13 in North America. Overall, the company is planning to open 53 new stores in the next four years.