About a year ago, Apple (NASDAQ: AAPL) confirmed that it would be opening its first retail store in Brazil in the near future. 9to5Mac is now citing sources claiming Apple is hoping to open its Rio de Janiero stores in the first calendar quarter of next year, though it's still working on construction and staffing.
Apple investors tend to laser-focus on China when it comes to international expansion. Nevertheless, Brazil is a meaningful opportunity, one that CEO Tim Cook has claimed is his No. 2 priority for international expansion. However, smartphones aren't subsidized in South America, which presents challenges given the iPhone's premium sticker price.
In this segment of Tech Teardown, Erin Kennedy discusses the latest developments for Apple's retail expansion with Evan Niu, CFA, our tech and telecom bureau chief.
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