Apple CEO says to add 25 stores in China
Tim Cook plans to expand retails stores within the next two years
Apple CEO Tim Cook has said that the company is planning to open 25 retail stores in China in the next two years according to Reuters, citing a Chinese transcript of an interview posted by web portal Sina.com.
Apple, which currently earns about 15% of its revenue in Greater China, currently has 15 outlets in the country.
"We're investing like crazy in the market. When I look at China, I see an enormous market where there are more people graduating into the middle class than any nation on Earth in history." Cook said on Monday on the company's fourth-quarter earnings call.
Cook is currently visiting China, where he has toured Foxconn Technology Co's iPhone factory in Zhengzhou and looked at local retail operations.
On Wednesday, Cook met with China's Vice Minister Ma Kai, where according to Reuters, the two exchanged views on "protection of users' information" as well as "strengthening cooperation," according to the official Xinhua News Agency.
On Friday, Cook will attend meetings at Beijing's Tsinghua University as a member of the School of Economics and Management's advisory council where he will be joined by Facebook founder, Mark Zuckerberg.
The Apple chief also said the company is cooperating with Chinese firms including Baidu Inc and Alibaba Group Holding Ltd, according to the online transcript.