John Paczkowski

Recent Posts by John Paczkowski

Apple Store Headed to Hong Kong This Quarter

With sales in Greater China surging, Apple is quickly ramping up its retail presence in the country.

Later this month, Apple will open a new store in Hong Kong’s International Finance Center mall. Located in the city’s central shopping and business district, the store will be Apple’s fifth in China when it opens for business — reportedly on September 24. It will be followed by a sixth in Shanghai later this quarter.

As we’ve noted here many times before, China is clearly Apple’s next major geographic growth opportunity. There is a fast-developing brand preference for its products among higher-income Chinese consumers, one borne out by the massive lines and stockouts that greeted the launch of the iPad 2 and iPhone 4. And by expanding its retail distribution like this, the company is moving quickly to take advantage of it.

As Apple CEO Tim Cook said during the company’s July earnings call, Apple’s revenue from Greater China surged sixfold to about $3.8 billion during its third quarter.

“China was very key to our results,” Cook said at the time. “[It] has been a substantial opportunity for Apple, and I firmly believe that we’re just scratching the surface right now. I think there is incredible opportunity for Apple there.”

[Image credit: NeonPunch]


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