Apple (AAPL) Sales Soaring in China

After failing in its first attempt to penetrate the Chinese market, Apple (NASDAQ:AAPL) made the needed adjustments and sales are soaring for the giant tech company.

A year later, its Shanghai’s flagship store is reportedly the most profitable per square foot in the world. There are now waiting lists to buy iPads and iPhones, even though they sell for 30 percent more than in America.

What happened? What did Apple do to turn around its operations when other foreign retailers like Best Buy (NYSE:BBY) and Home Depot (NYSE:HD) had to retreat from the market?

Originally, Apple waited too long to get the iPhone into the market. By the time the iPhone officially sold there, early adopters had already bought around 2 million cracked versions smuggled in from the U.S. and Hong Kong.

So for the iPad, Apple used a different tack. Instead of waiting years as it did with the iPhone, Apple waited only months after it came out in the U.S. to launch the iPad in China. Consumers did not feel the need to travel abroad to shop when they knew products were coming to them soon.

Apple closed Tuesday at $355.76, gaining $0.40, or 0.11 percent.




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