Tim Cook says Apple will build its first Asia-Pacific R&D center in China

Source: Shanghai Daily | August 17, 2016, Wednesday |

Online Edition

Apple Inc will build first Asia-Pacific research and development center in China by the end of this year, Apple's Chief Executive Tim Cook said during his visit to the country.

Cook announced the information during a meeting with Chinese Vice Premier Zhang Gaoli. But Apple didn't reveal more details like location and when to begin construction.

Apple has been working to increase its investment in China amid declining revenues and rising competition from local brands.

Apple's revenue in China was US$8.85 billion last quarter, down 33 percent from the year prior.

It was a sharp decline compared with a 112 percent revenue growth a year ago.

Local brands Huawei Technologies, Oppo and Vivo are top three smartphone brands in the domestic market, the world's biggest market with more than 1.1 billion mobile phone users, said research firms.

However, Cook is optimistic about the world smartphone market as penetration in many markets is very low, such as India, where the 4G network is just rolling out this year.
Smartphones are growing in importance as they add new functions, and they will not be replaced by other products any time soon.

"For most people, the smartphone is either the primary or the sole window that they have to the Internet... and there is nothing that eclipses it any time soon or maybe any time in the distant future," Cook was cited by Xinhua in Beijing.
Another factor that has influenced the financial figures is the depreciation of the Chinese yuan, he said.

During his visit to China, the second in the four months, Cook visited government officials, met with developers and visited an Apple Store in Chongqing, according to his Weibo account.

Besides the new center, Apple announced a US$1 billion investment in China's largest ride-hailing app Didi Chuxing in May.
Cook also said he is optimistic about the company's sales prospects in the fall, especially as the iOS 10 operating system will be launched.

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Tim Cook says Apple will build its first Asia-Pacific R&D center in China

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