Apple plans on opening three stores in Shanghai and is considering more locations in other first and second-tier Chinese cities as well, reports “CrunchGear” (http://macosg.me/2/hl).
The first Chinese Apple Store opened in 2008 in Sanlitun, Beijing” but these new locations mark a strategy shift for Apple,” the article adds. “The Oriental Morning Post” says Apple plans on having as many Chinese retail outlets as Louis Vuitton (which would be over two dozen).
In March Morgan Stanley analyst Katy Huberty toldclients in a research note that China represents Apple’s next major geographic growth opportunity, and that Apple’s plan to open 25 retail stores in China, announced during its shareholders meeting in February, could help drive Apple’s share price — in her “bull case” scenario — as high as US$435 within a year.