Apple to shutter retail store in China for first time ever

Firm has been looking to stage a comeback in the country, which is grappling with deflationary pressures

- BLOOMBERG

Apple Inc is closing a retail store in China for the first time, marking a notable retreat in a market where the iPhone maker is striving to revive sales.

The company said on Monday that it will shut its Parkland Mall store in the Zhongshan District of Dalian City on August 9, citing a changing landscape at the shopping complex. It has about 56 stores in the Greater China region, making up over 10 per cent of its footprint of more than 530 outlets globally.

"We're always focused on providing an exceptional experience for all of our customers both online and at more than 50 Apple Store locations across Greater China," the California-based firm said in a statement. "Given the departure of several retailers at the Parkland Mall, we have made the decision to close our store there."