Apple is planning to boost its retail presence by opening new stores across the Middle East and other regions to tap new growth markets and boost customer experience, according to Bloomberg.
As part of the growth strategy, Apple plans to launch five more stores in the Middle East, the source revealed.
Some new stores are already in development, with Apple having struck lease agreements.
In March, Apple disclosed its plan to target emerging markets such as the Middle East when growth is slowing down in the Americas.
CEO of Apple, Tim Cook, was encouraged by record-setting sales in countries such as Saudi Arabia, the UAE and the Philippines: “Where our results were really stellar during this quarter was really in the emerging markets, and we couldn’t be prouder of the results that we had there.
“We’re putting efforts in a number of these markets and really see, particularly given our low share and the dynamics of the demographics, a great opportunity for us in those markets.”
The Middle East smartphone market (excluding Turkey) is expected to grow by six per cent in 2023 to 40.4 million units, according to Telecomlead.
Statista found that as of March 2023, the monthly share of Apple in the Saudi Arabian mobile market reached around 42.2 per cent, up from around 39.3 per cent in January 2023. Apple’s closest competitor in the country was Samsung, with a market share of around 23 per cent for the same month.