Apple has decided to close a branded store in China for the first time

Apple is closing a store in China for the first time in its history. It's a step backward in one of the key markets where the iPhone maker is trying to regain ground after declining sales.

An Apple-branded store in the upscale Parkland shopping center in the northeastern Chinese city of Dalian will cease operations on August 9, the company announced on its Chinese website. This will leave just one Apple store in the city of 7.5 million people. 

"Given the departure of a number of tenants from Parkland Mall, we have made the decision to close the store at this location," quotes Bloomberg quoted Apple as saying in a statement. Hong Kong's South China Morning Post noted that the closure followed Parkland's rebranding to Intime City after a change in management company. 

The shopping center's former operator had been in financial difficulties and litigation for several years, sources told Macrumors. As a result, the majority shareholder in 2025 took full control of the complex's lease and operations. Hugo Boss, Michael Kors, UGG and other well-known brands have also left the mall, the source said.

In 2024, Apple will operate 57 stores in Greater China, which includes the mainland, Hong Kong, Macau and Taiwan. On August 16, the company will open its third store in Shenzhen. But while Apple continues to grow its retail network, the pace has slowed since the pandemic, with the company now focusing on launching online stores in new countries and refreshing existing locations, writes Bloomberg. 

Apple's sales in China in the second quarter fell 2.3% to $16 billion, while analysts expected $16.8 billion, the agency notes. Meanwhile, competition from Chinese brands is intensifying. Huawei regained the top spot in the smartphone market in mainland China in the second quarter despite a decline in sales, reports the South China Morning Post, citing a Canalys report published July 28. Vivo, which was leading a year ago, moved to second place. Oppo took third place, Xiaomi fourth. Apple rounded out the top five with a share of about 15%.

Bank of America expects Apple to announce results for its last fiscal quarter on July 31, within forecasts. That said, BofA allowed that the company's outlook for the current quarter will be slightly above market expectations, writes The Street. "Ahead of the release of results for fiscal Q3 2025, which will take place after the market close on July 31, we note moderately negative investor sentiment amid uncertainty surrounding duties, risks to the App Store due to the U.S. Department of Justice's investigation, and [the company's] slow progress on artificial intelligence," The Street cited a note from BofA's analyst team to clients.

BofA points out: Apple has traditionally been slow to roll out new features before they're fully ready, but "the pace of AI development outside the company is dizzying." Siri, which still can't compete with third-party AI assistants, is undermining the company's reputation as an innovator, stated the investment bank. Apple is considering buying Internet search engine Perplexity AI - and, according to BofA's opinion, such a deal "could have a positive impact" on its stock, which is currently "on the penalty bench" because of lagging AI.

According to analysts surveyed by the

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