Apple's Southeast Asia Growth: New Kuala Lumpur Store Set to Open In June

Zinger Key Points
  • Apple to open its first retail store in Malaysia on June 22, boosting sales and operations in Southeast Asia.
  • The new store is located at The Exchange TRX mall in Kuala Lumpur, with Apple already having stores in India, Thailand, and Singapore.

Apple Inc AAPL will open its first retail store in Malaysia on June 22 at The Exchange TRX mall in Kuala Lumpur, expanding its presence in Southeast Asia.

This new store aims to boost sales and operations outside of China. Apple already has stores in India, Thailand, and Singapore.

Malaysia is becoming increasingly important for Apple in both production and sales, Bloomberg reports.

Also Read: Taiwan Semi Leverages Asian Expertise and Culture for Chip Manufacturing Edge

The company began producing some Macs in Malaysia a few years ago and manufactures iPhones in India and AirPods in Vietnam.

The new store has been under construction for several years, with hiring starting early last year.

Apple initially planned the opening for February. CEO Tim Cook visited Southeast Asia in April to promote regional growth in Singapore, Indonesia, and Vietnam.

Recent reports indicated Apple consolidating its relationship with China while expanding in Southeast Asia and India.

In 2023, Apple boosted its number of China-based suppliers and manufacturing sites, lowering its reliance on suppliers from Taiwan, the U.S., Japan, and South Korea.

Apple stock gained over 7% in the last 12 months. Investors can gain exposure to the stock via Fidelity MSCI Information Technology Index ETF FTEC and Vanguard Information Tech ETF VGT.

Price Action: AAPL shares traded higher by 0.01% at $190.01 premarket at the last check on Wednesday.

Image Source – Shutterstock

Market News and Data brought to you by Benzinga APIs
Posted In: GovernmentNewsRegulationsTop StoriesTechMediaBriefsStories That Matter
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!