28 Sep Apple Planning To Set Up Their First Retail Store In Samsung Country
The luxury brand plans to enter the home turf of the famous brand Samsung, South Korea with their first ever retail store for which they are searching for the ‘perfect spot’.
And this isn’t it, as per the Wall Street Journal Reports, Apple is not just eyeing a vacant spot to build their retail store, they are looking for a spot in close vicinity with the Samsung store situated in Seoul’s Gangnam District. So clearly, we can sense some rivalry between the top brands and Apple’s forethought behind the undertaking.
Apple, which currently owns more than 500 stores across the globe, has more than 36 stores in China and over 200 of these in the US itself. The technology company has a market share in South Korea of approximately 10-12% and they plan to increase the number by launching a retail store in the country.
The dripping sales of Samsung’s Galaxy Note 7 due to its battery crisis could be one reason to target the company’s base company. But nothing could be told at this stage. Since launching a retail store has its own series of long procedures: fixing a spot, designing interiors, setting up the building. This could take as long as a year or doesn’t take place at all since setting up shops in other countries has always been a herculean task for the luxury brand. And Apple, being an international brand, is likely to face some troubles with the laws and business practices of South Korea.
Apple is also known to take advantage of the battery crisis in Samsung Galaxy Note 7 which is known to have wrecked the company’s sales. However, this has not affected the global market share of Samsung which continues to rise above 22% of the total market in the last quarter while Apple’s have decreased from 14.6% to 12.9% as per the research firm, Gartner. Though, the newly released Apple Smartphones: iPhone 7 and 7 Plus, will help boost Apple’s global market.
Whatever the scenario may be, we hope both these flagships do exceedingly well and come back with more amazing releases to delight their customers!