Apple’s New IPad to Arrive In China on July 20

Apple Inc. (AAPL) (AAPL) said its latest iPad tablet will arrive in China on July 20, as the world’s most populous country becomes an increasingly critical market for the company’s business.The new iPad, which went on sale in the U.S. in March, will cost $499 to $829 depending on the amount of memory and if the device is compatible with a cellular service, Cupertino, California-based Apple said today in a statement.China has become Apple’s second-biggest market after the U.S., as rising wages give Chinese citizens more disposable income to spend on iPhones, iPads and Mac computers. China accounted for $7.9 billion of Apple’s $39.2 billion sales in the fiscal second quarter, which ended March 31. That was more than triple the company’s sales in the country a year earlier.Apple will look to buck a slowdown in the Chinese economy that is reverberating among other technology companies. Applied Materials Inc. and Advanced Micro Devices Inc. cited weakness in China this week when trimming their financial forecasts.Chinese Premier Wen Jiabao said there was “relatively large” downward pressure on the economy there, and that authorities will intensify efforts to give it a boost, according to a July 8 report by the official Xinhua News Agency.Apple also is taking steps to manage the new iPad’s debut in China to avoid a repeat of the scene when the iPhone 4S was released there last year. Customers who had been waiting in line for hours clashed with employees and threw eggs at the stores, causing shops to be closed. Authorities were called in to break up the crowd.Apple said the new iPad will be available for purchase by reservation only at Apple retail stores. It also will be available for sale at authorized resellers and the company’s online store.The iPad is Apple’s second-best (AAPL) selling product behind the iPhone, accounting for 17 percent of sales in the second quarter. Apple, the world’s largest company by market value, will report third-quarter results on July 24.Apple rose less than 1 percent to $614.07 at 1:33 p.m. in New York. The shares have risen 52 percent this year.

Sourced: http://www.businessweek.com/news/2012-07-10/apple-says-next-ipad-tablet-will-arrive-in-china-on-july-20