Latest news with #ParklandMall
India.com
7 hours ago
- Business
- India.com
Apple will close 56 retail stores in China for the first time, now planning to open new stores in India and...
Apple will close 56 retail stores in China for the first time, now planning to open new stores in India and... In a drastic move, Apple is planning to shut its store at Parkland Mall in Dalian on August 9. This becomes first-ever physical store closure in mainland China since it entered the market nearly two decades ago. The company cited 'operational changes' at the mall—recently rebranded as Intime City under new management—as the reason for the move, according to a report in South China Morning Post. Apple also noted that other retailers had exited the complex, suggesting a broader shift in local retail dynamics. But, in what could be a good news for Apple lovers in India, Apple is planning to open four new retail stores in India as part of its phase two retail expansion. These new stores will be located in Pune, Noida, Bengaluru, and Delhi-NCR. Apple currently operates two stores in India, one in Mumbai and another in Delhi. The expansion is expected to further strengthen Apple's presence and reach in the Indian market. Where will this stores be in India? In Pune one of the new stores will be located in Kopa Mall. DLF Mall of India in Noida may also have a new Apple store. In Bengaluru, the store is rumoured to be in Phoenix Mall of Asia. The location will be in the Delhi-NCR region hasn't been confirmed yet. In Mumbai, Apple is also reportedly looking for a location for a new store in Mumbai, possibly in Navi Mumbai.
India Today
13 hours ago
- Business
- India Today
Apple is shutting a store in China for the first time. Here's why
Apple will shut its store at Parkland Mall in Dalian on August 9, marking its first-ever physical store closure in mainland China since it entered the market nearly two decades company cited 'operational changes' at the mall—recently rebranded as Intime City under new management—as the reason for the move, according to a report in South China Morning Post. Apple also noted that other retailers had exited the complex, suggesting a broader shift in local retail from the store will be offered roles at another Apple outlet just three kilometres away at Olympia 66 mall in Dalian. Apple highlighted that the closure is an isolated decision, not indicative of a broader retreat from China. The company currently operates 46 stores in mainland China and 56 across Greater China, and says it remains committed to the market, with new stores planned in Shenzhen, Beijing, and the move comes at a time when Apple is facing increased pressure in China's competitive smartphone market. In the April–June quarter of 2025, Apple slipped to fifth place in market share, shipping 10.1 million units and accounting for just 15% of the total, behind Huawei, Vivo, Oppo, and attribute the decline to a combination of factors: rising competition from domestic brands, growing nationalistic sentiment, and a broader economic slowdown. Huawei's recent resurgence—especially with the launch of its Mate series—has also cut into Apple's dominance in the premium segment, 9to5Mac Apple continues to enjoy strong global sales, the Chinese market presents a unique challenge. Consumers are increasingly price-conscious, and local smartphone makers offer highly competitive alternatives. That's pushed Apple to recalibrate its retail strategy, focusing on high-traffic flagship locations and strengthening its digital Dalian closure may be a first for Apple in China, but for now, it looks more like a tactical adjustment than a strategic retreat.- EndsMust Watch
Gulf Insider
a day ago
- Business
- Gulf Insider
Apple Closes A Store In China For The First Time In Its History
In what is being seen as a first defensive move by Apple, the iPhone manufacturer has decided to close one of its retail shops in the country – marking it the first-ever closure since entering the market in 2008. China was the second-biggest retail market for Apple after the United States, but has faced tough competition from local brands in recent times. On Monday, Apple announced that it would close its store in Parkland Mall, located in the Zhongshan District of Dalian City, on August 9. Apple stated that the closure was due to changes in the shopping complex's landscape, a claim echoed by several locals. The mall has been experiencing a decline in footfall, which has led to the departure of several globally renowned brands. Retailers like Coach, Sandro and Hugo Boss haven't renewed their leases in recent years. In a statement to Bloomberg, Apple said: 'We're always focused on providing an exceptional experience for all of our customers both online and at more than 50 Apple Store locations across Greater China. Given the departure of several retailers at the Parkland Mall, we have made the decision to close our store there.' Apple has about 56 stores in the Greater China region, making up over 10 per cent of its footprint of more than 530 outlets globally. Dalian City has two Apple Stores, and they are less than 10 minutes apart. The other store at the Olympia 66 shopping complex remains open. Employees at the site that's closing will be given opportunities to work elsewhere, the company said. The two locations are roughly 10 minutes apart. Apple is opening a new store at Uniwalk Qianhai in Shenzhen in the middle of August, and Bloomberg reported it is planning additional locations in Beijing and Shanghai over the next year. On July 21, the company announced the opening of Apple Retail Service and App Store in Saudi Arabia, and said they have plans to open several stores on the country, including an iconic retail store in Diriyah, a UNESCO World Heritage site. The company is adding new stores in Detroit, the United Arab Emirates, and Bengaluru in India. A location in Osaka opened on July 26. The company also opened its first store in Malaysia last year.
Business Standard
a day ago
- Business
- Business Standard
Apple to close first retail store in China amid changing market conditions
By Mark Gurman Apple Inc. is closing a retail store in China for the first time, marking a notable retreat in a market where the iPhone maker is striving to revive sales. The company said on Monday that it will shut its Parkland Mall store in the Zhongshan District of Dalian City on Aug. 9, citing a changing landscape at the shopping complex. It has about 56 stores in the Greater China region, making up over 10 per cent of its footprint of more than 530 outlets globally. 'We're always focused on providing an exceptional experience for all of our customers both online and at more than 50 Apple Store locations across Greater China,' the Cupertino, California-based company said in a statement. 'Given the departure of several retailers at the Parkland Mall, we have made the decision to close our store there.' China is grappling with deflationary pressures as consumption wanes and global tariffs hurt exports, a major engine of the world's No. 2 economy. Retail sales growth has fallen short of forecasts, and home prices dropped at a faster pace in June. ALSO READ: Apple turns to Japan to ease China's rare-earth magnet supply squeeze The closing store is one of two locations in Dalian City. The other, a store at the Olympia 66 shopping complex, remains open. Employees at the site that's closing will be given opportunities to work elsewhere, the company said. The two locations are roughly 10 minutes apart. More broadly, Apple has been looking to stage a comeback in China. Sales in the country fell 2.3 per cent to $16 billion in the second quarter, which ended March 29. Analysts had predicted $16.8 billion. Apple is opening a new store at Uniwalk Qianhai in Shenzhen on Aug. 16. It's also planning additional locations in Beijing and Shanghai over the next year, Bloomberg News has reported. It opened a store in the Anhui province in January. The company is also expanding soon with new stores in Detroit, the United Arab Emirates, Saudi Arabia and India. A location in Osaka opened on July 26, and a major new flagship store debuted in Miami in January. The company also opened its first store in Malaysia last year. While Apple is still adding new stores, overall retail expansion has slowed since the pandemic hit. Apple has instead focused on opening up its online retail store in new places, such as India and Saudi Arabia, and updating or moving older physical locations. The company also appears to be becoming more selective in renewing its leases, announcing plans to shutter a store in Bristol in the UK on same day as its closure in China. Other upcoming closures include the Partridge Creek store in Michigan and the Hornsby location near Sydney. Apple isn't the only major brand to back out of China's Parkland Mall. Earlier this year, the majority shareholder of the complex took full operational control, and retailers like Coach, Sandro and Hugo Boss haven't renewed their leases in recent years. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hindustan Times
a day ago
- Business
- Hindustan Times
Apple to close Parkland Mall retail store, marks first closure in China
Apple Inc. is closing a retail store in China for the first time, marking a notable retreat in a market where the iPhone maker is striving to revive sales. Apple to mark first closure with Parkland Mall store shut down(REUTERS) The company said on Monday that it will shut its Parkland Mall store in the Zhongshan District of Dalian City on Aug. 9, citing a changing landscape at the shopping complex. It has about 56 stores in the Greater China region, making up over 10% of its footprint of more than 530 outlets globally. 'We're always focused on providing an exceptional experience for all of our customers both online and at more than 50 Apple Store locations across Greater China,' the Cupertino, California-based company said in a statement. 'Given the departure of several retailers at the Parkland Mall, we have made the decision to close our store there.' China is grappling with deflationary pressures as consumption wanes and global tariffs hurt exports, a major engine of the world's No. 2 economy. Retail sales growth has fallen short of forecasts, and home prices dropped at a faster pace in June. The closing store is one of two locations in Dalian City. The other, a store at the Olympia 66 shopping complex, remains open. Employees at the site that's closing will be given opportunities to work elsewhere, the company said. The two locations are roughly 10 minutes apart. More broadly, Apple has been looking to stage a comeback in China. Sales in the country fell 2.3% to $16 billion in the second quarter, which ended March 29. Analysts had predicted $16.8 billion. Apple is opening a new store at Uniwalk Qianhai in Shenzhen on Aug. 16. It's also planning additional locations in Beijing and Shanghai over the next year, Bloomberg News has reported. It opened a store in the Anhui province in January. The company is also expanding soon with new stores in Detroit, the United Arab Emirates, Saudi Arabia and India. A location in Osaka opened on July 26, and a major new flagship store debuted in Miami in January. The company also opened its first store in Malaysia last year. While Apple is still adding new stores, overall retail expansion has slowed since the pandemic hit. Apple has instead focused on opening up its online retail store in new places, such as India and Saudi Arabia, and updating or moving older physical locations. The company also appears to be becoming more selective in renewing its leases, announcing plans to shutter a store in Bristol in the UK on same day as its closure in China. Other upcoming closures include the Partridge Creek store in Michigan and the Hornsby location near Sydney. Apple isn't the only major brand to back out of China's Parkland Mall. Earlier this year, the majority shareholder of the complex took full operational control, and retailers like Coach, Sandro and Hugo Boss haven't renewed their leases in recent years.
