Recently, Tim Cook, the CEO of Apple has announced that their company will be building twenty-five more Apple Stores in China in the coming two years. Currently, the company has 15 Apple Stores all over the country. This news was revealed by Tim Cook on a recent visit to China, where he met with Ma Kai, the Vice Minister of China for discussing about the security of customers’ information.
At this moment about 15 % of the overall revenue of Apple comes from China. China has a massive and great potential for Apple in terms to increase their revenue and profit, and the other 25 Apple Stores will help the company in increasing their revenue from China. Tim Cook said on a call that their Company is investing like crazy in the market. He further said that whenever he thinks of China, he sees a large market where many people graduating into the middle class as compared to any nation on Earth in history.
The latest financial results of Apple were also announced, and record revenue for the last financial quarter was reported. The Company also announced record sales of iPhone.
Sales of iPads by Apple were down slightly, though this is expected to change with the release of the latest iPad Mini 3 and iPad Air 2 which were released yesterday, and they are also expanding their retail stores in China, which will help the company in gaining more iPad sales.