US-based multinational technology giant Apple is set to unveil its eighth store in Shanghai, China as part of its broader expansion strategy. 

Located on West Nanjing Road in Jing'an district, the new location will open on 21 March 2024. It will be one of 47 in the country. 

The company plans to expand and revitalise its retail operations with new and remodelled locations through to 2027, as reported by Bloomberg in June 2023. 

It is considering opening 53 new, remodelled or relocated sites across the Asia-Pacific region, Europe, the Middle East, the US and Canada. 

In addition to retail expansion, Apple is enhancing its research and development efforts in China.  

The company, which has research and development centres in Beijing, Shanghai, Suzhou and Shenzhen, plans to expand its existing lab in Shanghai and to establish a new one in Shenzhen which will concentrate on the development and testing of products including iPhones and Vision Pro headsets. 

Apple Greater China managing director Isabel Ge Mahe stated: “At Apple, we are proud we can foster deep relations in China, and we are expanding our world-class facilities here.  

"Every day, our outstanding team in China helps drive innovation, pushing the limits. This investment will further deepen our commitment and better support us in providing users with the world's top products." 

In January 2024, Apple paid a fine of Rbs1.2bn ($13.65m) to Russia, settling allegations of market dominance abuse related to in-app payments.