Apple To Open 10th Store In Mainland China This Week

Apple Inc. (AAPL), which counted on China for more than 15 percent of sales last year, will open its 10th store in the country’s mainland this week.

The retail space is set to open Jan. 10 at China Central Mall in Beijing’s Chaoyang district, the company said in a statement on its China website today.

Chief Executive Officer Tim Cook has pledged to double outlets to 22 in Greater China to meet demand in the world’s most populous country. The new Beijing store brings the nationwide total to 13, including three in semi-autonomous Hong Kong.

Apple opened its first Chinese store in Beijing’s Sanlitun district in 2008. The new store will be its fourth in Beijing. Apple also has four stores in Shanghai, one in Chengdu and one in Shenzhen, according to its website.

The company has trimmed its initial plan for adding stores. Former head of retail operations Ron Johnson, who left Apple in 2011, had set an earlier target of 25 stores in China by February 2012.

Source : bloomberg