Visiting Beijing to tout Apple’s environmental strides in China, Apple CEO Tim Cook told Xinhua he is “very bullish on Apple Pay” for the country, despite a series of snags that has kept the payment system from going live there. Once Apple Pay is available, Cook said he believes China will adopt it even faster than the U.S. has.
China has already become a more lucrative market than the U.S. for iPhone sales, with Apple overtaking local phone maker Xiaomi to become the top smartphone vendor in China. “I think China is a market where everyone will own a smart phone,” Cook said, adding he hopes to convince “a reasonable percentage” of that market to carry the iPhone.
Apple is rapidly expanding its retail presence in China to meet growing demand, opening seven more Apple stores since the start of 2015 and planning to nearly double the current total of 22 stores by the middle of 2016. “Forty is a good objective for us for mid next year,” said Cook, “That is not where we want to end. We’ll keep adding from there.”