Monday, October 22, 2012

Apple Inc. (NASDAQ:AAPL) opens largest retail store in Asia

Apple Inc.(NASDAQ:AAPL)’s largest store in Asia located in Beijing opened on Saturday to long queues almost as if the company were releasing another of its coveted devices.

Located at the Wangfujing shopping district, it opened to predictable enthusiasm and fanfare with crowds and lines thronging the outlet for t-shirts that were being given away to mark the opening.

According to the Wall Street Journal A pair of high school students, Wang Xueang and Chang Dawei, were first in line at 8:30 p.m. Friday night, bringing snacks in tow. They wanted to be among the first to see the store, they said, because they admired the “unique” brand.

“Their goal isn’t to make money but to change the world, and it’s a culture we should learn from,” Wang said.

This is Apple's third store in Beijing, though it is much larger than the two existing stores. The company has six stores in China and the other three are located in Shanghai. The company is planning another one in Shenzhen.

Apple will be launching its iPhone 5 in China in December.

While the precise size of the store was not disclosed it employs about 300 workers, which brings the total strength of Apple’s employees in its retail stores to 800.

China is one of the major markets that are being targeted by the company as it offers huge opportunities for its products. The company has said before that its stores in China get also four times the footfalls of its stores in the United States.

Though Apple has fewer stores in China compared to some other countries, its devices including the iPads sell more through resellers and distributors.

Apple now plans to cash in on this demand for its products by expanding its own retail network.

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