Apple shut down shop in China for first time
(MENAFN) Apple has announced it will close one of its stores in China for the first time since entering the market over 15 years ago. The company plans to shut its Parkland Mall location in Dalian’s Zhongshan District on August 9, citing mall restructuring as the official reason.
This closure comes amid ongoing challenges in Apple’s second-largest market, where sales have dropped for six consecutive quarters. Last year, Apple’s annual revenue in China fell to $66 billion, nearly 10% below the 2022 peak. Meanwhile, domestic Chinese brands like Huawei, Xiaomi, and Vivo have steadily gained market share. According to Canalys, Apple’s share of China’s smartphone market slipped from almost 18% last year to 15% this spring, ranking it fifth overall.
While the store closure was linked to the mall’s reorganization, experts see it as part of a broader strategic shift. The US-China trade tensions have led Apple to move much of its iPhone production out of China to countries like India and Vietnam to reduce risks and costs. The trade dispute escalated earlier this year when the US imposed steep tariffs on Chinese goods, prompting retaliatory measures from Beijing. However, recent talks in Stockholm aim to extend a tariff truce and ease economic strains between the two powers.
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