Apple (Nasdaq: AAPL) is set to open its third retail store in Beijing later this month. Two years ago, retail chief Ron Johnson, who has since left to become CEO of JCPenney (NYSE: JCP), said Apple was hoping to have 25 retail stores in China within the near future. Right now, Apple still has only seven stores in the Greater China region including the two in Hong Kong. That's a major retail shortfall in one of Apple's most important growth geographies -- one that the company needs to address. A third Beijing store is just a start.

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