Tag: apple

  • 2 Reasons Why China’s Macro Woes Won’t Affect Apple, Inc. as Much as You Think

    2 Reasons Why China’s Macro Woes Won’t Affect Apple, Inc. as Much as You Think

    The market certainly woke up on the wrong side of the bed for 2016, and most fingers are pointed to troubling macro-economic data out of China along with The Middle Kingdom’s brutal market sell-off. The Shanghai Composite Index is already down 10% year to date, and it’s only been a week. You probably also saw those headlines about the day that the Chinese market was only open for less than 30 minutes before circuit breakers (which have since been suspended) were triggered, ending the day down 7%.

    Meanwhile, pessimism surrounding Apple continues to build as well, in part because China is such an important market for the Mac maker. But there are two important reasons why all of the China-related storylines won’t affect Apple as much as you might think.

    China’s stock market participation is very low
    It’s true that China’s stock market is largely dominated by retail investors instead of institutional investors (a stark contrast to the U.S.), with an estimated 90% of all capital accounts owned by retail investors. Chinese investors also tend to be short-term traders instead of long-term investors, which contributed to heightened volatility.

    But it’s also true that overall stock market participation is fairly low in China, so the gyrations aren’t directly affecting the average consumer. For example, the Southwestern University of Finance and Economics in Chengdu conducts a regular China Household Finance Survey led by professor Gan Li. According to the survey, just 6% of households in China owned stock during the first quarter of 2015.

    So while the volatility of the Chinese stock market makes for some panicky headlines, the average Chinese consumer’s discretionary spending and income is just fine. They can still go out and buy that iPhone.

    China’s slowing GDP growth is not affecting the mainstream consumer
    The other recurring theme is China’s slowing macroeconomy, as evidenced by decelerating GDP growth rates. But again, these GDP figures aren’t directly translating into reduced income or spending on the consumer level. Quite the contrary, in fact.

    Much of China’s GDP growth over the past decade has been driven by investing and exports, but China’s economy is now transitioning toward consumer consumption, which will only benefit consumer-oriented companies like Apple. Consider per-household annual consumption by category from 2005, along with forecasts through 2030, where discretionary categories are growing the fastest:

    China Spending

    Source: McKinsey.

    Or consider the fact that Apple’s China business has grown incredibly against a backdrop of slowing GDP:

    Aapl Gc Vs Gdp

    Source: SEC filings and The World Bank. China GDP growth measured in constant local currency. Calendar years shown.

    The rising middle class in China won’t be stopped, and that’s good news for Apple.

     

  • Apple Crash? iPhone Parts Orders Slashed 30%

    Apple Crash? iPhone Parts Orders Slashed 30%

    Apple’s bet that Chinese consumers would rush to buy massive numbers of iPhones appears to have imploded as the tech leader has cut supplier parts orders by 30 percent.
    Apple’ss stock fell by $3 to $102 on January 5 after the Nikkei Asian Review reported that with iPhone 6S and 6S Plus models ballooning on retail shelves in China and Europe, the company was forced to slash parts demand by almost a third versus last year.

    Breitbart News warned on July 10, with Apple’s stock price at $124 a share, that the international dominance of Apple’s iPhone was at risk from the long-term impacts of China’s stock market crash, which saw prices fall by 40 percent over a 10-week period.

    We pointed out at the time that Apple’s growing dominance in the “Red Dragon” was due to huge investments by the company to make iOS and Mac OS X easier for Chinese language users. Many of the upgrades at Apple Worldwide Developers Conference 2015 were optimized specifically to target Chinese users.

    The company also embarked on a crash program to build 40 retail stores and Genius Bar help desks in premium retail spaces in an effort to portray Apple as an aspirational brand.

    Despite losing significant market share in the rest of the world, Apple’s strategy of betting the farm in China had seemed brilliant through the month of May. China’s “Silk Road” domestic reforms, aimed at expanding consumption by taking hundreds of state-owned-enterprises public, had caused 150 percent gain in the nation’s stock markets over the past year.

    With the number of retail brokerage accounts for Chinese investors exploding up from 20 million to about 100 million accounts, the ultimate status symbol in China had become watching live stock prices on the iPhone 6.

    The China stock indexes tumbled by 41 percent and wiped out $5 trillion in value in a three-month period this summer. Goldman Sachs just estimated that the Chinese government had to spend $236 billion and ban selling by major shareholders to stabilize markets. But the international brokerage firm is worried that with China now owning the equivalent of 9.2 percent of China’s freely-traded stock shares, the stock markets are at risk of crashing again if the government tries to sell.

    Despite the summer’s turmoil, Apple announced on October 27 that for the year ending September 30, the company achieved 99 percent year-over-year revenue growth in China. Apple CEO Tim Cook triumphantly told institutional investors later in the day that he anticipates the Greater China region, currently accounting for 24 percent of sales, will become “Apple’s top market in the world.”

    Despite all the company’s positive spin, Apple’s stock is now in a “bear market.” It just made an annual low, down 23 percent from its July high.

    With Apple’s stock appearing to carve out what some traders are calling a very dangerous “head and shoulders trading pattern,” a re-acceleration of the China stock crash represents a huge downside risk to Apple shareholders.

  • Apple on a roll with retail expansion in China as it announces 30th store

    Apple on a roll with retail expansion in China as it announces 30th store

    China’s current economic problems – share trading suspended for the second time in a week after stocks fell 7% – doesn’t seem to be impacting Apple’s retail store expansion program in the country. The company has announced the opening of its 30th retail store in China, the second one it is opening this month. Back in 2014, the company set a goal of opening 40 stores in the country by October of this year.

    The latest store is in Xiamen, a port city on the Taiwan Strait. Xiamen is home to one of the four Special Economic Zones established by the Chinese government back in the 1980s, to encourage foreign investment and trade.

    Unusually, the store opens on a weekday, with Apple’s website showing that it will open at 10am on Thursday 14th January. The store is located in the SM Lifestyle Center at 399 Jiahe Road, in the Siming District of the city. It opens just a few days after the 29th store in Shenyang.

  • Apple to open its 25th new retail store in China

    Apple to open its 25th new retail store in China

    Apple has declared that its 29th retail location in China opens in Shenyang, the capital city of Liaoning, on Saturday, January 9 at 10:00 a.m. local time. The store will be situated in the MixC shopping center at 288 Qingnian Street in Shenyang’s Heping District.  The new store will be open Monday to Sunday between 10 a.m. to 9:30 p.m. local time, and offer traditional Apple Store services, including the Genius Bar, Workshops, Joint Venture, events and classes.

    This new MixC area in Shenyang will be Apple’s 25th retail location in Chinese territory, and the organization also operates in four retail locations in Hong Kong. Shenyang is situated around 250 miles (402 km) upper east of Dalian, a noteworthy port city in southern Liaoning where Apple’s 21st retail location in China opened on October 24, 2015.

    Apple has forcefully extended its foot print in China under the initiative of retail chief Angela Ahrendts, having opened new stores in Nanning on December 12, Beijing on November 28 and Chengdu on November 21. Apple likewise opened stores in retail locations in Chongqing, Hangzhou, Hong Kong, Nanjing and Tianjin all through 2015.

  • Apple Inc. Continues To Bet Big On China, To Open 29th Store

    Apple Inc. Continues To Bet Big On China, To Open 29th Store

    Apple Inc. continues to bet big on China. It did so last year, and is doing so this year also. The US firm will open its 29th retail store in Shenyang – capital city of Liaoning – on January 9. The store will be in the MixC shopping mall at 288 Qingnian Street in Shenyang’s Heping District.

    Apple is expanding its footprint in China at a very aggressive pace under retail chief Angela Ahrendts, and has opened new stores in Nanning on December 12, Beijing on November 28 and Chengdu on November 21. In 2015, the US firm also opened retail stores in Chongqing, Hangzhou, Hong Kong, Nanjing and Tianjin.

    Apple Inc's Apple Store NASDAQ:AAPL

    Apple’s new store will be open on all five days from Monday to Sunday between 10 a.m. and 9:30 p.m. local time, and will offer traditional Apple Store services. At the same time, it will include the Genius Bar, Workshops, JointVenture, events and seminars. This new store in Shenyang will be the company’s 25th retail store in mainland China, and it already operates four retail stores in Hong Kong.

    Magic fading in China?

    Apple Inc. has been generating huge revenue from China on YoY basis. In the past three years, China has contributed 23%, 41% and 53% to Apple’s total revenue. In fiscal 2015, China for the first time overtook Europe, in terms of revenue. Despite the impressive growth, there are many who believe economic slowdown in the region will impact the iPhone sales.

    However, CEO Tim Cook says there is no issue at all. A few months back, Cook gave reasons for his stance, saying, “if I were to shut off my web and shut off the TV and just look at how many customers are coming in our stores regardless of whether they’re buying, how many people are coming online, and in addition looking at our sales trends, I wouldn’t know there was any economic issue at all in China.”

    But, two indices suggests, that Apple sales in China may not witness the growth it has seen in the last few years. These two indices are – drop in quarter-on-quarter sales in Greater China and an erosion of Apple’s overall market share, said an earlier report from Bloomberg. In the last quarter of fiscal 2015, Apple witnessed a 5.4% drop in revenue versus the prior quarter.

    In the Q2 this year, Apple Inc.’s smartphone market share in the region dropped to 7.7% from 10.8% in the previous quarter, as per the data from Bloomberg Intelligence. This may suggest that Apple’s magic in China may be fading.

  • Apple Hong Kong store gets an extra floor

    Apple Hong Kong store gets an extra floor

    Apple’s first retail store in Hong Kong is expanding with the addition of a third floor.

    The store, located in IFC Mall, opened its doors in 2011. Three more have since opened across the territory, but demand for Apple’s products still caused frequent congestion inside the IFC Mall location.

    Apple Hong Kong store 1 ( Apple Insider)

    In a catchy promotion announcing the expansion, Apple has mounted signs with the slogan: “We’re taking things up a level”.

    According to AppleInsider, construction of the extra floor is nearly complete. The store will feature a new, separate staircase to access the new zone.

    Apple Hong Kong store 2 ( Apple Insider)

    Apple opened its 28th store in China last week, with plans to have a total of 40 retail locations in Greater China by mid-2016.

  • Apple Pay to debut in smartphone mecca China next year

    Apple Pay to debut in smartphone mecca China next year

    Apple and Samsung said Thursday they had secured separate deals with China UnionPay that will let their users in China add credit or debit cards to the respective mobile-payments services. Both companies said their services would launch in China as soon as early 2016 after testing and certification required by regulators.

    “China is an extremely important market for Apple, and with China UnionPay and support from 15 of China’s leading banks, users will soon have a convenient, private and secure payment experience,” Eddy Cue, Apple’s head of Internet software and services, said in a statement.

    A few hours later, Samsung announced a similar partnership with China UnionPay.

    “The collaboration with China UnionPay, coupled with the support from major UnionPay partner banks in China, will bring this secure and easy-to-use mobile payment solution to more Samsung mobile users,” Injong Rhee, the global chief of Samsung Pay, said in a statement.

    Launched last year in the US and then in other countries, Apple Pay enables owners of the iPhone 6, iPhone 6S or Apple Watch to pay for items on the go via the wireless technology NFC (near-field communication). Meanwhile, Samsung Pay, which hit the US this past September, doesn’t require NFC technology needed by Apple Pay and can work with any magnetic-strip card reader.

    Companies are eager to push mobile payments in the belief that the additional service will build consumer loyalty. Users of electronic-payments services might be more likely to stick with their current smartphone if they could store their payment data and use the device to buy shampoo, beer, gum or whatever else.

    As the largest smartphone market in the world, China represents a significant business opportunity for mobile-payments systems. The country’s massive population of 1.35 billion and growing middle class have created a lucrative market for companies like Apple and Samsung. For Apple, China is a key market, accounting for $12.5 billion in revenue during its fourth quarter.

    Apple had been trying to reach an agreement with Chinese bank UnionPay, which is the only bank in China that conducts interbank payments, according to a report in MarketWatch. That monopoly on credit- and debit-card processing effectively locks out MasterCard and Visa.

    Since last year, Apple has also been chatting with at least eight major Chinese banks about adopting Apple Pay. But those talks hadn’t gone well either, a source close to them told MarketWatch. One bank expressed no interest in any deal.

  • Apple Korea faces antitrust probe

    Apple Korea faces antitrust probe

    Apple Korea has found itself under the spotlight in South Korea over its repair contracts.

    South Korea’s antitrust watchdog Fair Trade Commission (FTC) said today it is checking possible unfair provisions in contracts signed between Apple Korea and local electronic repair companies.

    The FTC did not elaborate on details but said it confirmed there were unfair clauses that favored the electronics giant.

    “The probe was launched by the commission based on suspicions, with investigators processing all the information gathered,” FTC chief Jeong Jae-chan said.

    He predicted that results of the review will be made public soon. He said because many consumers used iPhones in the country, the investigation should generate considerable interest.

    The latest examination follows the corporate regulator’s recent order that eight local repair companies and mobile operators must change their customer service rules that unfairly restrict the rights of consumers.

    Repair firms, such as UBase Inc., Peach Valley and Beyond Tech Co, along with mobile operators SK Telecom and KT, were ordered to make changes earlier in the year.

    An FTC official said that while the ruling against repair firms involved businesses and consumers, the latest ongoing actions target business-to-business arrangements.

    Besides Apple, the FTC said it plans to release repair information by all mobile phone manufacturers within the year, so consumers can personally check how companies fix gadgets.

    Information will be provided by the Korea Consumer Agency on Samsung Electronics, LG Electronics and Apple, with data to go into such matters as costs, how repairs are made, the time it takes to fix broken devices and related procedures that must be followed, it added.

  • Apple executive seeks a touch of chic at retail stores

    Apple executive seeks a touch of chic at retail stores

    Apple’s stores typically spotlight the company’s devices, with the most expensive audio accessories topping out in the hundreds of dollars. The Phantom is the first high-end non-Apple gadget that Ms. Ahrendts, the former chief executive of the fashion house Burberry, has brought in since she took the job. It buttresses some of her other recent moves to create more of a luxury Apple retail experience, including initiating private try-on appointments for the most expensive Apple watches, reducing the numbers and types of accessories that are sold, and pushing manufacturers to make special packaging for gadgets carried in Apple’s stores.

    Ms. Ahrendts “is shaving off some rough edges and completing our sense that the Apple Store is a premium experience,” said Jan Dawson, an analyst at Jackdaw Research.

    Her role in bringing in the Phantom also gives a glimpse into how Ms. Ahrendts has been operating within the world’s biggest company. Since joining Apple, the 55-year-old executive has been relatively quiet publicly. But she moved swiftly and nearly unilaterally on the Phantom, showing how she can push for the products that will shape the store experience.

    The products that Apple stores carry are important because they make up the only customer experience that Apple can fully control, Mr. Dawson said. “The stores are the best physical manifestation of the brand,” he said. “Angela is bringing her sensibility to that experience.”

    Apple declined to comment and declined to make Ms. Ahrendts available for an interview. In a public appearance last month at the Fast Company Innovation Festival, Ms. Ahrendts said she had been working toward Apple’s stores becoming “sleeker and smarter,” as well as unifying Apple’s in-store and online shopping experiences.

    Apple has traditionally sold the most expensive accessories online only, like the $2,700 B&O BeoPlay A9 MKII speaker. “I asked Tim a very simple question: Why do we do it this way?” she said of her boss, Timothy D. Cook, Apple’s chief executive. Mr. Cook told her he didn’t know, she said.

    Ms. Ahrendts’s push will have implications for Apple’s growth. As of September, the company had 463 retail stores worldwide and was focused on expanding in China. The stores account for about 12 percent of Apple’s annual $234 billion in sales, Mr. Dawson estimated. Store revenue rose about 39 percent over the last 12 months, according to eMarketer, with Apple stores generating $5,775 a square foot, or more than any other retailer in the world, beating out Tiffany & Company, Coach and Movado.

    Ms. Ahrendts was known at Burberry for revitalizing the brand, pushing the fashion house into online retail ahead of other luxury apparel companies and forging alliances with tech companies like Apple, through which she outfitted Burberry’s corporate staff with iPads. Mr. Cook hired her in 2013 to make sure that Apple’s stores would evolve and expand.

    At the time, morale had fallen at Apple’s stores, the company’s executives have said. Ron Johnson, a former Target executive who became the first head of Apple’s retail stores, had departed the company in 2011. After a search, he was replaced by John Browett, who had run the British electronics retailer Dixons. Mr. Browett slashed hours and benefits for Apple Store employees.

    Since coming aboard, Ms. Ahrendts has asked for Apple’s 60,000 retail employees to air their grievances and send suggestions, and she sends them weekly three-minute video updates to improve communication. She has started a program so employees can move to other stores worldwide. Ms. Ahrendts has also overseen the opening of new Apple stores, including 14 in China and Hong Kong. For customers, she reduced Apple’s long lines by creating an online reservation system.

    By bringing the Phantom to Apple, Ms. Ahrendts is giving the technology crowd something to love as well. Phantom’s parent company, Devialet, is a brand used by tech executives including Tony Fadell, the chief executive of Nest; Andy Rubin, the co-founder of Android; and Marc Benioff, chief executive of Salesforce.com, said Mr. Sannié. He said Mr. Benioff recently introduced Ms. Ahrendts to him and encouraged her to hear the Phantom.

    For Devialet, moving the Phantom into Apple’s stores is significant. The Paris-based company is known for making amplifiers that can cost as much as $30,000. Until the Apple deal came along, its devices were carried in only a handful of exclusive retailers, including Colette in Paris, Harrods in London and the MoMA store in New York City.

    Since the initial meeting with Ms. Ahrendts, the process of getting the Phantom into Apple’s stores has been smooth, Mr. Sannié said. He and his team have visited almost all of the 14 stores where the speaker will initially be sold to look at display possibilities.

    “We don’t have other global distribution other than the Apple store,” Mr. Sannié said. “We don’t want to be in another chain because millions go to the Apple store looking for excellence, the very best products. This is the best exposure we could want.”

  • Apple Hong Kong IFC Store Adds Third Floor

    Apple Hong Kong IFC Store Adds Third Floor

    Apple Insider reveals that the iPhone maker is working to develop a third floor for its first Apple store in Hong Kong, which originally opened in 2011. Located at the International Finance Center (IFC), the tech giant’s signboard outside the new floor claims that it will be opening “soon,” even though no official dates have been disclosed as yet.

    Apple Inc.’s ongoing attempts to expand its retail stores all around China have been increasingly evident after it rolled out new stores in Dalian, Beijing, Chengdu, and most recently, Nanning on December 12. It seems that this expansion plan is part of the tech giant’s agenda to launch at least 40 Apple Stores in China by 2016.

    Even though the tech giant has launched a number of other stores in Hong Kong following its IFC-based outlet, it seems that Apple is interested in renovating its first store in the area. The company is working to create a separate staircase entry to the floor rather than extending the existing one, further creating a grander feel to the present outlet.

    We believe that the company’s recent attempts to integrate its retail branches with genius bars and workshops is part of its on-going renovations to recreate a new style of store interior under the leadership of Apple’s Chief Designer, Jony Ive and Apple’s Retail and Online Stores’ senior VP, Angela Ahrendts. This may help the iPhone maker create a theme of architectural consistency between all outlets and operate distinctively against its competitors.

    Since this Apple Store outlet is located in the city’s Central District and hangs over one of its busiest roads, we believe that the store expansion will help Apple lure in more customers. It also seems that the renovation will soon end, as speculation states that lights have already been switched on inside the space, possibly hinting at its upcoming opening. Judging by the company’s popularity in Asia, which has led to its drastic expansion plan; providing customers with three floors full of Apple products will surely work as a great marketing push for the tech giant in Hong Kong.

  • Apple’s Fifth Retail Store in Beijing Opens November 28

    Apple’s Fifth Retail Store in Beijing Opens November 28

    Apple has announced that its fifth retail store in Beijing, and 27th in China, opens Saturday, November 28 at 10 AM local time. The store will be located in the new Chaoyang Joy City shopping mall at 101 Chaoyang North Road in Beijing’s city proper Chaoyang District.

    The new store will be open 10 AM-10 PM local time everyday and offer traditional Apple Store services, including the Genius Bar, Workshops, JointVenture, events and seminars. Apple’s four other retail stores in Beijing are located at China Central Mall, Sanlitun, Wangfujing and Xidan Joy City.

    Apple has opened more than seven new retail stores in China this year, including locations in Chongqing, Dalian, Hangzhou, Hong Kong, Nanjing and Tianjin. The company is committed to expanding its footprint in China, an increasingly important market, under the leadership of retail chief Angela Ahrendts.

  • Apple continues clean energy push with Singapore rooftop solar deal

    Apple continues clean energy push with Singapore rooftop solar deal

    The world’s largest technology company has announced that its entire Singapore operations, including a 2,500-person corporate campus and a forthcoming retail store, will be 100% powered by solar panels.

    Analysts says the company’s recent efforts of focusing on renewable energy would help in cost-savings but will the benefit be transferred to the customers is too early to conclude, and the fact remains that Apple’s loyal consumers see Apple brand as a premium and privilege one, rather than for price.

    According to Sunseap, rooftop installations are an ideal solution for densely populated Singapore, which doesn’t have land to spare for ground-mounted solar arrays. Apple and its chief LCD supplier, Foxconn, have further plans to generate hundreds of megawatts of solar power to boost Apple supply chain’s total clean energy consumption to 2GW. The deal, worth $850 million, will provide enough renewable energy to power every Apple Store in California, offices, headquarters and a data center. This also includes its upcoming store that will be the first-ever solar-powered store in Southeast Asia.

    Currently, about 60 per cent of the power generated by Sunseap across Singapore are from panels spread over 900 tall housing blocks, also known as Housing Development Board (HDB) flats, a company spokesperson said. The island-state has always been alongside larger markets including Japan, Hong Kong and the US, but has never had an Apple Store in list of day one product launchings. Apple will be partnering with local company Sunseap group who will be providing renewable power.

    It is not yet known when the Apple store will exactly open to the public. According to The Straits Times, clothing stores Tommy Hilfiger, Topshop/Topman and Brooks Brothers, as well as watch retailer Dickson Watch & Jewellery will be moving out to make way for this mega store.

    The tech giant has also announced its employment program in Singapore, ahead of the inauguration of its store.

    Angela Ahrendts, Apple’s Senior Vice President for Retail and Online Stores, Recently affirmed that an Apple Store would be opening shortly in Singapore.

  • Solar-powered Apple Store to debut in Singapore

    Apple is poised to become the first company to open a fully solar-powered store in Singapore as part of its ongoing efforts to go green with renewable energy source.

    The Cupertino-based tech giant has signed a partnership deal with solar energy developer Sunseap Group for acquiring 100% renewable electricity, once the project goes live.

    Reuters reports that Apple plans to create 200 megawatt solar energy projects in China and work with the local suppliers to obtain more renewable energy. In addition, the company is committed to purchase more power from a California solar farm for its new Silicon Valley campus, which will use rooftops to harness power from the sun.

    Apple’s new retail store and neighbouring public-owned buildings in Singapore will use rooftop solar panels on 800 buildings to generate 50 megawatts (MW) of total renewable energy that can power up to 9,000 homes. The company’s new facility will burn around 33MW of the project’s capacity.

    There is still no word on the actual location and the launch date for the upcoming retail Apple Store in Singapore. However, Sunseap managing director Frank Phuan has sounded positive about globalising sustainable energy practices as more and more companies start embracing the new technology.

     

  • Apple to open its first retail store in Singapore in 2016

    Apple is expanding its retail store globally pretty rapidly, as the company has now announced opening of its first retail store in Singapore. Apple’s this store is reportedly going to open sometime in 2016. We first got this news last month, when it was reported that the Cupertino based company is opening its first retail store in Singapore.

    Today, Apple has listed out several job vacancies like Specialists, Business Specialists, Creative, and some other Apple positions for its Singapore Retail Store. This store is going to open at Knightsbridge at a four storage luxury shopping center.

    As of Now, Apple doesn’t have any official retail store in this region. So people, who are interested in buying Apple product have to buy their devices from third party retailers or online store. But if anyone wants to buy product from Apple’s official retail store, then they have to go to company’s retail store in Hong Kong or Australia.

    As of now, we don’t have any specific date of opening of Apple retail store in Singapore, but it is going to open sometime next year.

  • New Apple Store Opens in Chengdu on November 21

    New Apple Store Opens in Chengdu on November 21

    Apple, continuing its aggressive retail expansion in China, has announced that it will be opening its 22nd retail store in the country in Chengdu, a major city in Sichuan Province, on Saturday, November 21 at 10:00 AM local time. The new store is slated to open less than a month after the grand opening of the 21st Apple Store in China in the major port city of Dalian on October 24.The new Chengdu store will be located in the upscale Taikoo Li shopping plaza at 8 Middle Shamao Street in the Jinjiang District, where several high-end retailers such as Gucci, Omega and Zara are located. The store will be open 10 AM-10 PM local time everyday and offer traditional Apple Store services, including the Genius Bar, Workshops, JointVenture, events and seminars.

    Apple has also posted new job listings for its first retail store in Singapore, which is rumored to open in late 2016 at the Knightsbridge four-story luxury shopping center. The company is looking for Specialists, Geniuses, Creatives, Business Specialists and other traditional Apple Store positions.

    Apple does not currently have an official retail presence in Singapore, a large city-state and country south of Malaysia in Southeast Asia, but the Apple Online Store and dozens of Apple Authorized Resellers operate in the region. The closest physical Apple Stores are located several hours away by plane in Australia and Hong Kong.