According to Apple COO Tim Cook, Apple is only “scratching the surface” in the China market with only four stores nationwide and a measly 9% smartphone share. Not to mention the near unlimited potential with the iPad.
The same thing happens in China that occurs in the United States when a new iPhone is released – lines extend blocks, and people are willing to endure nearly any condition just to be one of the first people to get a genuine Apple iPhone.
Compare China and United States (Population)
Here’s the biggest factor to consider when looking at the massive potential for growth that China has pent up within its borders. The population of the United States is currently (according to Google), 307,006,550. Compare this to the population in China which is currently at 1,331,460,000 – 4 times the size of the United States.
And with this many people in the country of China, and with the growing influence of smartphones worldwide, we’re talking about a substantial market potential for Apple. And honestly, any company that can penetrate the China market is game for explosive growth.
It’s already been proven that China has been a ripe market for Apple’s iPhone. Since 2007, China’s iPhone black market has been booming with some iPhone’s selling for as much as $900 USD.
What do you think? Will Apple explode with growth in the China market?
What other markets, or companies, do you see as primed to thrive in China?