Apple to open 2nd store in S. Korea this week

SEOUL, Feb. 24 (Yonhap) -- Apple Inc. will launch its second official outlet in South Korea on Friday, expanding its presence in the country since its first store opened doors in 2018.

The new store, located in IFC Mall in Yeouido, western Seoul, plans to open later this week to visitors, the U.S. tech giant said Wednesday.

Apple's move comes as it seeks a greater share of the local market dominated by homegrown tech giant Samsung Electronics Co.

The U.S. smartphone maker is expected to account for 22 percent of the local smartphone market this year, up 1 percentage point from a year earlier, on the back of solid sales of its first 5G smartphone, the iPhone 12, according to market researcher Counterpoint Research.

Samsung is forecast to have a 65 percent stake in the market this year.

Globally, Apple surpassed Samsung as the top smartphone vendor in the fourth quarter last year, according to research and consulting company Gartner Inc.

yunhwanchae@yna.co.kr
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