Apple is doing in China what it has never done since its first store opening in 2008
Apple
will close one of its retail stores in China after establishing its presence in the country in 2008. The Apple Store in question is the one situated in
Dalian City Parkland Mall
and it is set to cease operations on August 9. This move signals Apple's response to a reportedly challenging retail environment, as locals have described the Parkland Mall as struggling, noting that other major brands like Michael Kors and Armani have also recently closed their outlets there.
'Given the departure of several retailers at the Parkland Mall, we have made the decision to close our store,' The New York Times quoted Apple spokesman Brian Bumbery as saying. He said that the company remains committed to the Dalian community and that 'all of our valued team members will have the opportunity to continue their roles with Apple.'
Apple plans new store in China amid tough competition
The report also said that Apple plans to open a new store in the southern Chinese city of Shenzhen this month. With this new opening, the company expects to maintain its total number of stores in China at 58 by the end of 2025, the same figure it held at the beginning of the year.
The news comes at a time when China is facing broader economic challenges, particularly with consumer spending. Despite significant government programmes designed to stimulate purchases of goods like smartphones and electric vehicles, economists caution that any boost to consumption may be short-lived, the report said.
by Taboola
by Taboola
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Meanwhile, Apple's has ongoing business struggles in China, which stands as its second-largest market. The tech giant has reported declining sales in the country for six consecutive quarters. Chinese rivals such as Huawei, Xiaomi, and Vivo have been steadily eroding Apple's market share in the world's largest smartphone market.
India is gaining on becoming a smartphone manufacturing hub as Apple continues to shift its focus to India. According to a report by Canalys, India has surpassed China in exporting smartphones to the US. Driven by Apple's shift and Trump's tariffs, India now accounts for 44% of US smartphone imports.
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