Apple Plans Two More Chinese Research Hubs as iPhone Sales Slow
- Company intends to spend at least $500 million on such centers
- Tim Cook’s attending a forum in Beijing over the weekend
Apple Plans to Expand in China as iPhone Sales Slow
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Apple Inc. has revealed plans to set up two more research centers and boost investment in China, a pivotal market in which the iPhone has been rapidly elbowed aside by local rivals.
The announcement comes as Chief Executive Officer Tim Cook undertakes his latest trip to a country that ranks as Apple’s single biggest overseas market. Apple said it plans to build new research facilities in the eastern Chinese cities of Shanghai and Suzhou, on top of centers already slated for Beijing and the southern city of Shenzhen. It also pledged to spend at least 3.5 billion yuan ($507 million) on research institutions.