Apple CFO Fred Anderson this week confirmed reports that the company will open a flagship European store in London by the end of the year.

Last February, it emerged that Apple has chosen a 20,000sq ft site on London's Regent Street for which it will pay up to £1.5m a year in rent.

The location, believed to be 229-247 Regent Street, is currently being redeveloped by its owner, Queen Elizabeth II.

Over the last few years, Apple has built up a network of over 70 retail sites in the US, with major stores in New York, Chicago, Los Angeles and San Francisco. The only AppleStore it owns and operates outside North America is situated in Tokyo. ®

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