Tim Cook Pledges More Apple Investment in China
BEIJING— Apple Inc. Chief Executive Tim Cook, in a meeting with senior Chinese government officials, pledged to increase investment in China, including creating Apple’s first research center in the country.
The research center, which will open later this year, will focus on developing new products and services and “strengthening relationships with local partners and universities,” an Apple spokesman said. “We look forward to expanding our operations in China with a new Research and Development center as we continue to grow our talented team here,” he said.
The move comes as Apple faces multiple headwinds in China, including the shutdown of its online book and movies services, tighter cybersecurity regulations and slowing iPhone sales. Once Apple’s fastest-growing region, China has been the biggest drag on Apple’s sales in the past two quarters as Chinese rivals produce increasingly competitive products.
Apple revealed in April that it refused requests from Chinese authorities to share source code. That month, China also shut down Apple’s online book and movie services, telling the company it lacked the necessary licenses, according to people familiar with the matter.
Mr. Cook, according to CCTV, also said he would support China’s plan to update traditional manufacturing industries with automation and internet technologies. – Article published on WSJ
