Here Are Apple’s Huge Growth Plans for Japan
Apple (NASDAQ:AAPL) is planning to open its first new Apple Store in Japan since 2005, according to a source who spoke to Bloomberg. The store will be located in the high-end Omotesando shopping district in Tokyo and could open as soon as March, the source said.
Although Apple didn’t respond to requests for a comment, the company’s website is advertising for jobs at a new Tokyo store. “For Apple, the Japanese market is appealing in terms of quantity and price,” Satoru Kikuchi, an analyst at SMBC Nikko Securities Inc., told Bloomberg. “There is a room to expand tablet sales and a possibility the Japanese market expands if Apple’s mobile carrier partners increase.”
Japanese Prime Minister Shinzo Abe has loosened business regulations and increased government support for industry that Apple could take advantage of as a part of his plan to rejuvenate Japan’s economy, according to the publication. Abe has already started fiscal and monetary stimulus in the country.
The move comes amid speculation about a deal between Apple and Japan’s largest wireless carrier, NTT DoCoMo Inc. DoCoMo doesn’t yet carry the iPhone and Apple doesn’t yet have access to DoCoMo’s 60 million subscribers, so a deal would be highly beneficial for both companies.