A number of media outlets reported earlier this month on Tim Cook’s latest visit to China, the second in 11 months by Apple’s CEO. He previously went in March.
“China is currently our second-largest market,” Cook told the Xinhua News Agency (via the BBC). “I believe it will become our first.”
According to Forbes, Apple sales in China doubled in 2011 from 2010, and the company now has 11 retail outlets within China. What’s also interesting about his recent visits is that Business Insider points out Cook is the first active Apple CEO to visit the contry. Steve Jobs sent Cook as a delegate, writes Dylan Love, “when trouble started brewing with Foxconn.”
With smartphone penetration nearing a saturation point in industrialized nations, one can only guess that Apple needs to expand to China and other developing countries in order to maintain its aggressive quarterly growth.