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- Apple (NASDAQ:AAPL) is reportedly closing a retail store in China for the first time, citing a changing landscape at the shopping complex.
- The company has about 56 stores in the Greater China region, and the closing store is one of two locations in Dalian City, with employees to be provided opportunities to work elsewhere, Bloomberg reported.
- Apple (NASDAQ:AAPL) has made this decision amid ongoing challenges in the Chinese market, where it operates approximately 56 stores—representing over 10% of its global retail network of more than 530 locations.
- Despite the closure, Apple is set to open a new store at Uniwalk Qianhai in Shenzhen on August 16, with more locations planned in Beijing and Shanghai over the coming year.
- The iPhone maker reported a 2.3% decline in sales in China during the second quarter, generating $16 billion—below analysts’ projections of $16.8 billion.
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