Apple (NASDAQ:AAPL) is set to open its eighth store in Shanghai on March 21, amid a slowdown in iPhone sales in China, Bloomberg News reported.

The retail space known as Apple Jingan is situated at the center of the city, which already has the largest number of Apple stores in China mainland, the report added.

The store will be one of 47 locations across China, adding to its largest retail network after the U.S.

Sales of the iPhone in China fell 24% year-over-year in the first six weeks of 2024, amid rising competition from Chinese rival Huawei Technologies, and aggressive pricing from the likes of OPPO, vivo and Xiaomi, among other things, according to Counterpoint Research.

The new store is part of a bigger strategy by Apple to expand as the company intends to revitalize its retail operations with new and remodeled stores. The Cupertino, Calif.-based tech giant is aiming for dozens of new, relocated or revamped stores over the next few years, the news outlet had reported in June last year.