A Korean tech site reports today that the "local unit of the US-based tech firm Apple is estimated to post 800 billion won (US$680 million) in earnings this year on the back of strong sales of its iPhone lineup. The operating profit of Apple Korea Inc. is expected to reach over 800 billion won (US$680) with its sales to reach 3 trillion won (US$ 2,571,750 billion).
A total of 2.6 million iPhones were sold in South Korea as of November, sources report, adding that the number is expected to reach 2.9 million by the end of this year. That accounts for about 15 percent of the South Korean smartphone market which sells around 20 million units annually. The sources said sales of iPhones in the local market account for more than 75 percent of Apple Korea's revenues."
This is good news considering that Apple is likely to open their first flagship store in South Korea's Garosugil Shopping District in 2017. It was reported in July that South Koreans under 30 prefer the hip iPhone over local smartphones from Samsung and LG.