One of the largest competitions currently in the smartphone industry exists between the two behemoths, Apple Inc. (NASDAQ:AAPL) and Samsung. However, Apple is striking the first move through planning the grand opening of a new retail store (the first of its kind) in South Korea, which is the home base for Samsung productions.
More details about Apple moving into South Korean markets
It was revealed that the store would be located in one of the main cities in South Korea, Seoul, however, not exactly what area. However, various reports illustrate that an Apple store is under construction, in the southern area of Seoul.
It is anticipated that the store, will be ready to open to the public by the end of November. Hopefully, by then the tech giant will release more information revolving around the new retail store.
In a statement, which was made to Reuters, Apple spokesman, stated, “We’re excited about opening our first Apple Store in Korea, one of the world’s economic centers and a leader in telecommunication and technology, with a vibrant K-culture.”
Any other details relating to Apple moving into South Korea
Although it has not been officially disclosed, it is believed that this is all part of the attempts of the tech giant to expand on a global scale. Not only in terms of where products are sold but also where the company has physical market penetration.
Although, there is such a long wait until the store will be opened, the company already released a statement, that it is in the process of hiring individuals who will be serving as employees of the retail store, and bringing the joy of Apple products, to those who live in South Korea on a physical level.
Apple stock closed on Monday at $117.91, after rising $1.30 or 1.11%