Hong Kong takes a bite of Apple

Apple opened its first store in Hong Kong amidst growth of retail sales driven by spending from visiting Mainlanders.

A Bloomberg report said, “The Hong Kong store is opening more than three years after Apple started its first self-operated shop in mainland China as the Cupertino, California-based company expands in a region where revenue surged sixfold last quarter. Retail-sales growth in Hong Kong exceeded 20 percent for a fifth straight month in July, bolstered by spending from Chinese visitors.”

The shop, located in the International Finance Centre mall, opened on 24 September 2011.

Paul French, founder of Shanghai-based market research company Access Asia, was quoted by the report as saying, “You can’t ignore Hong Kong, it’s a great retail market. There is a lot of money in Hong Kong.”

View the report here.