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Apple to open 25 stores in China over next two years

By | February 26, 2010, 6:15am PST

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.

http://www.textually.org/textually/archives/images/set3/iphone-china-talks.jpgApple 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.”

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Shareholder, Risk, Apple Inc., Financial Accounting, Finance, Jason D. O'Grady

Jason O'Grady is a journalist and author specializing in mobile technology. He has published six books on Apple and mobile gadgets and his PowerPage blog has been publishing for over 15 years.

Disclosure

Jason D. O'Grady

Jason D. O'Grady is the creator and editor of O'Grady's PowerPage, which has been publishing mobile technology news since 1995. He maintains an advertising relationship with the following legacy advertisers on the PowerPage:

  • Amazon Associates
  • Google Adsense
  • Tekserve

    • Advertising on the PowerPage is brokered by a third-party agency (BackBeat Media) and he recuses himself from these negotiations.

Biography

Jason D. O'Grady

Jason D. O'Grady developed an affinity for Apple computers after using the original Lisa, and this affinity turned into a bona-fide obsession when he got the original 128 KB Macintosh in 1984.

He started writing one of the first Web sites about Apple (O'Grady's PowerPage) in 1995 and is considered to be one of the fathers of blogging. He has been a frequent speaker at the Macworld Expo conference and a member of the conference faculty. He also co-founded the first dedicated PowerBook User Group (PPUG) in the United States.

After winning a major legal battle with Apple in 2006, he set the precedent that independent journalists are entitled to the same protections under the First Amendment as members of the mainstream media.

O'Grady is the author of The Nexus One Pocket Guide, The Droid Pocket Guide, The Google Phone Pocket Guide, and The Garmin nuvi Pocket Guide (Peachpit Press), the author of Corporations That Changed the World: Apple Inc. (Greenwood Press), and a contributor to The Mac Bible (Peachpit Press). In addition, he has contributed to numerous Mac publications over the years, including MacWEEK, Macworld, and MacPower (Japan).

When he's not writing about Apple for ZDNet at The Apple Core, he enjoys spending time with his family in New Jersey.

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No Big Deal.
Feldwebel Wolfenstool 28th Feb 2010
Just steal what you want, off of the production lines.
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0 Votes
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Good
Michael Kelly 26th Feb 2010
It's high time we had some money flowing in this direction.
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RE: Apple to open 25 stores in China over next two years
Loverock Davidson 26th Feb 2010
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.
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Considering that all of Apple's hardware
Yam Digger 26th Feb 2010
is manufactured in China, I find it quite ironic that they don't already have a huge presence there.
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...think "price"...
Feldwebel Wolfenstool 26th Feb 2010
...then think again why the stuff doesn't sell well in China.
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Trivia question for the day...
AFUMCBill 26th Feb 2010
Will any of the people who work the lines building Apple product be able to afford to buy it?
0 Votes
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No Big Deal.
Feldwebel Wolfenstool 28th Feb 2010
Just steal what you want, off of the production lines.
0 Votes
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RE: Apple to open 25 stores in China over next two years
Appreciate-Tech 27th Feb 2010
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?

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