Apple to open 25 stores in China over next two years

Apple to open 25 stores in China over next two years

Summary: Apple told shareholders that it plans to open 25 stores in China in the next two years and that it plans to conserve cash.

TOPICS: Apple, Banking
7 held its annual shareholder meeting yesterday and, in traditional fashion, communication devices were banned. That didn't stop word from leaking out though. Philip Elmer-DeWitt was able to piece together a pseudo liveblog for Fortune from unnamed shareholders attending the event.

Environmental groups at the meeting pushed for an even greener Apple, but a sustainability proposal was rejected by the board. Perhaps the biggest piece of news was that Apple plans to open 25 retail stores in China over the next two years. Apple opened its first store in China in Beijing in 2008.

CNBC reports that when Jobs was asked why Apple keeps so much cash on hand, he responded "We want to take risks, technical risks … We want to know that the ground is still beneath us when we jump."

Topics: Apple, Banking

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  • Good

    It's high time we had some money flowing in this direction.
    Michael Kelly
  • RE: Apple to open 25 stores in China over next two years

    Wouldn't that be a waste of time given all the piracy and cloning they do in China? I would think Apple would actually lose out over there.
    Loverock Davidson
  • Considering that all of Apple's hardware

    is manufactured in China, I find it quite ironic that they don't already have a huge presence there.
    Yam Digger
  • ...think "price"...

    ...then think again why the stuff doesn't sell well in China.
    Feldwebel Wolfenstool
  • Trivia question for the day...

    Will any of the people who work the lines building Apple product be able to afford to buy it?
    Wild Biker Bill
    • No Big Deal.

      Just steal what you want, off of the production lines.
      Feldwebel Wolfenstool
  • RE: Apple to open 25 stores in China over next two years

    Specious argument, China will be the largest
    consumer market in the world! It already is the larges
    manufacturers market in the world, why would Apple
    not invest in that country big time?