Apple has been making its presence felt in Asia. That includes China and Japan. Now, the tech giant will open a store in South Korea. The intense rivalry between Apple and Samsung has become more evident.
An Apple Store In South Korea
According to the Wall Street Journal, Apple has been planning to open its first retail store in South Korea. This can be detrimental to Samsung if this move succeeds, as the South Korean tech giant has already suffered from the worldwide Galaxy Note 7 recall. Samsung now has to deal with competing against Apple in its home turf.
Some reports actually state that Apple's Korean unit has just signed a lease for a property. In fact, they have paid a $1.44 million deposit. According to the Korea Times, the lease will run until Feb. 29, 2036. However, the opening date is not yet known.
The property is said to be in Garosu-gil road. It's an area in Seoul's Gangnam district. Gangnam is home to Samsung's three-story D'light store and one of its main office buildings.
Apple has not confirmed this report, however.
Apple's Market In South Korea
Consumers in South Korea have always bought iPhones from third-party suppliers. Apple has authorized these vendors and carrier partners to sell their devices.
An Apple spokesperson said the company hasn't made any announcements regarding a store in South Korea. Apple devices are sold via authorized third-party vendors, as well as carrier partners. The company already has a presence in several countries in the region, including China and Japan.
A mobile industry expert told Korea Times that the company is putting an effort into the Korean market. Apple is keen on fixing the problem of its poor A/S support. That has been the huge criticism of their Korean costumers.
Samsung's Reign In Their Home Turf
According to the Digital Trends, Samsung accounts for about 23 percent of South Korea's economy. This is where Samsung has one of its strongest markets. 88 percent of South Koreans own a smartphone, according to the Pew Research Center. This is the highest percentage in the world.