14 DAY TRIAL // Apple has confirmed plans to open its first retail store in Shenzhen, China this Saturday, November 3 at 9 a.m. local time. Located in Yitian Holiday Plaza at Nanshan district of Shenzhen, the new retail store is actually Apple’s seventh in the country.
In 2010, Apple pledged to open as many as 25 stores in China, but so far it has only managed to open six. Actually seven, if we count the upcoming venue in Shenzhen, but that’s still pretty far off from the aforementioned number.
Shenzen is also the city where many Apple products actually get manufactured. Apple partner Foxconn has several facilities there employing tens of thousands of workers that assemble iPhones, iPads, and other Apple products, as well as electronics for other companies, such as Sony and Microsoft.
Apple’s Senior Vice President of Retail, John Browett, reportedly confirmed that “many rich people live in this part of the city so the demographics are very good for high end retailers,” according to a story ran by MIC Gadget, cited by 9to5mac.
According to the latter source, Apple has emphasized the importance of China on many occasions, most recently during its Q4 2012 earnings call last week, when CFO Peter Oppenheimer confirmed earnings of $5.7 billion / €4.4 billion in revenue for the fourth quarter alone, and $23.8 billion /€18.4 billion for the entire year of 2012 from the country.
Despite its importance for Apple, China will officially start iPhone 5 sales in December, according to the same conference call held Thursday, October 25.
In related news, Apple has opened a new retail store in Palo Alto, California. The grand opening was marked by the usual cheering and high-fiving, but also by a surprise appearance from CEO Tim Cook.