According to Apple’s confirmed statement back in January, we’ll soon see the launch of an Apple retail store in Korea.
Apple Store in South Korea
South Korea’s smartphone market has long been dominated by Samsung and LG, largely due to the companies’ headquarters in the country. However, Apple seems determined to secure themselves a slice of a tech-savvy market that spends a large amount each year on electronics like mobile phones.
ETNews reported on a quote from the construction company working on the store, and it appears as if we’ll see the first Apple Store in Korea sooner rather than later.
“We have finished all the major interior decorations of the Apple Store and left only a simple task…Apple has decided to open the Apple store Seoul Gangnam store (first store) on Saturday, December 30, in consultation with the construction company. Unless there are special problems at the final stage of the construction, it will open from 10 am to 11 am on the day.”
With a launch right before the new year, Apple is missing out on the holiday shopping season. It has been reported that the original launch date was intended to be November 30th, which would have been much better for business. Construction continued all day and night for seven days a week during the building process, but the November 30 release remained out of reach. Still, it’s important that the company have a great launch if they’re hoping to break into the extremely competitive smartphone scene. With a location that’s very close to Samsung headquarters, it’s clear that Apple is making a statement and committing to a serious push to get their phones into the hands of South Korean consumers.
Serious Competition
It will be interesting to see whether the company can make a serious impact on Samsung and LG’s home turf with an Apple retail store in Korea. Although the phones have been available for purchase online in South Korea for quite some time, the company is hoping that a physical presence will help boost sales. There is very little risk in building out an Apple retail store in Korea, and if they truly are to gain greater exposure, it’s possible that they could eke out a small place in the market. However, despite Apple being a major competitor worldwide, South Korean residents are usually loyal to the phones of their home country.
The Apple store will be located in the Gangnam district of Seoul, known for its excellent luxury shopping scene. If there’s a place that makes sense for the business to launch, it would be Gangnam. Whether a location so close to Samsung’s headquarters is intentional or coincidental, there’s no doubt about it: Apple has made their intentions to grow their business in the South Korean market difficult to ignore. It remains to be seen whether or not this bold plan will actually pay off. With the amount of money the company is working with, however, risks are low, and it’s definitely worth a try.
