Apple to open 25 more stores in China

Sharpening its focus on China, Apple will open up 25 more retail stories in the nation over the next two years.

Apple CEO Tim Cook discussed the company’s plans in an interview posted by web portal Sina.com, Reuters reported. He made similar comments during Apple’s earnings call earlier this week, noting that the company already has 15 stores in Greater China.

The expansion in China comes as Apple is enlarging its global retail footprint. Apple Chief Financial Officer Luca Maestri said during the call this week that the company expects to open up 25 new stores in fiscal year 2015, about three-quarters of which will be overseas.

Later on during the call, Cook stressed Apple’s commitment to China, where “there are more people graduating into the middle class than any nation on Earth in history.”

“We’re investing like crazy in the market,” he said.

Cook said the company’s business is strengthening in China, though the iPhone 6 and 6 Plus were not released there until last week. Mac sales are up 54 percent year over year in China. What’s more, Cook said that just 20 percent of iPhones in China are purchased with a traditional subsidy, which analysts said attests to strong demand for the product there.

During a trip to China this week, Cook met with Chinese Vice Minister Ma Kai to discuss “protection of users’ information” and ways of “strengthening cooperation,” Reuters reported, citing the official Xinhua News Agency. On Friday, Cook and Facebook CEO Mark Zuckerberg will visit Beijing’s Tsinghua University, according to Reuters.

At top: People walk past an Apple store in Hefei, in east China’s Anhui province. (AFP/Getty Images)

 

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