Apple is working on expanding its presence in China by opening two more Apple Store retail locations in the country. The company will open a third Apple Store in Beijing on October 20th, and its first store in manufacturing hub Shenzhen, according to Bloomberg.
Reports of an Apple Store in Shenzhen first cropped up in June, when Apple applied for the proper permits to open a store in the city. The company was also applying for permits for a store in Chengdu. The map below shows the current state of known store locations in the world's most populous market, including a planned data center in Hong Kong.
More Sales in the Forecast, with a Chance of Heavy Profits
Apple currently has five Apple Stores in China, with three more known to be in the works. This isn't even a drop in Apple's potential retail bucket, however, if Topeka Capital analyst Brian White has it right.
According to Bloomberg, Mr. White believes Apple has the opportunity to open as many as 400-500 Apple Stores in China during the next 15-20 years. That would be more retail locations than Apple has around the world today.