Apple unveils two new China stores

Apple (AAPL.NASDAQ) will open two new stores in China, one in Shenzhen and one in Beijing, as it looks to expand sales in the world’s biggest market for smartphones and computers, Bloomberg reported. The Beijing store, scheduled to open October 20, will be Apple’s third in Beijing. The two new stores will bring Apple’s Greater China store total to nine, far behind former head of retail Ron Johnson’s 2010 estimate that Apple would have 25 stores in Greater China by the end of 2012. In March, Apple CEO Tim Cook announced plans for “even greater investment and growth” in China. Apple “has the opportunity” to open 400-500 stores in mainland China in the next 15-20 years, Brian White, an analyst at Topeka Capital Markets, wrote in a recent report.