When it comes to manufacturing Apple devices, Foxconn is the front runner. This China based company has been manufacturing devices for Apple for quite sometime now, and it looks like both the companies are on good terms as they keep on expanding. The latest news is, that Foxconn will spend over $1.6 billion on making new stores in China which will sell Apple products.

A couple of months back, there was an explosion at the iPad 2 manufacturing plant of Foxconn, which sadly claimed the lives of some of the workers there. Regardless of that, Foxconn keeps on investing in its partnership with Apple, as both the companies are definitely heavily getting benefit from it.

This new investment worth NT$47 billion, or USD$1.6 billion will enable Foxconn's subsidiary, Cybermart International to own and operate retail stores selling Apple products.

Apple has already granted retail permission to Cybermart International, which currently has about 34 stores in the greater China region. The number is expected to grow by the end of this year, as more stores will be opened soon. There is no doubt that Apple is working on penetrating into the Chinese market, which could bear much revenue for the company. Looks like Apple is playing its cards right.

If you found this post useful, dont forget to click the +1 button =>

Follow US on Google+

Tweet

 

You can follow Geohot on Twitter or become a fan on Facebook or by Email Subscribe to get All news Free