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Apple Inc. (AAPL) Expands Chinese Retail Presence as Rivals Bustle

Apple Inc. (NASADAQ:AAPL)

Apple Inc. continues to expand its retail presence in China at a brisk pace. The U.S. firm will open its 22nd retail store in the country in Chengdu on Nov. 21, says a report from MacRumors. Less than a month ago, Apple opened its 21st store in China in the major port city of Dalian.

Apple Inc. (NASDAQ:AAPL)

Apple expanding retail presence in China

Apple’s new store will be situated at an upscale shopping plaza that house several popular names such as Gap, Gucci, Omega and Zara. The store, which will be open from 10 AM-10 PM local time, will offer usual services.

The Apple iPhone is hugely popular in China. For the last quarter, sales to Greater China was up 99% at $12.5 bn. Greater China includes Hong Kong and Taiwan. Smartphones sales in China was up 87% despite the fact that the segment witnessed a decline in demand, Apple said.

Apple’s premium price tag, which was seen a liability initially, is now helping the product to stand out from the crowd of low-cost phones.

Separately, the US firm has posted job listings for its first store in Singapore. The store is rumored to open in late 2016. Apple is hiring Business Specialists, Geniuses, Specialists, Creatives and other usual positions.

As of now, Apple Inc. does not have an official retail presence in Singapore, but several Apple Authorized Resellers and the Apple Online Store serve the buyers in the region. The closest Apple Store to Singapore is in Australia and Hong Kong.

China’s Apple hit record sales

Apart from Apple, the smartphone maker regarded as Apple Inc. of China or “China’s Apple”, Xiaomi is also strengthening its presence in the region. The firm was the clear winner in the one of the world’s biggest shopping days Wednesday, says a report from CNBC.

Nov. 11 or the Singles’ Day in China is seen as the country’s anti-Valentine’s Day. Alibaba revealed that it processed $14.3bn in sales that day, making it the biggest shopping day in the history. This year’s sales number was up 60% from 2014.

On Wednesday, Xiaomi said it was the top-grossing merchant on Tmall.com, which is Alibaba’s online marketplace. This was the third straight successful year for the firm, whose sales came in at $196.3m or 1.4% of Alibaba’s total cash that day.

Xiaomi was also named the top smartphone brand, in terms of sales number, on other e-commerce platforms such as JD and Suning. With the first 12 minutes of Singles’ Day, paid orders for Xiaomi’s Tmall store crossed $15.7m.

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Aman is MBA (Finance) with an experience on both marketing and Finance side. He has work as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, playing PC games and cricket.

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