When Apple CEO Tim Cook recently visited China, everybody guessed that something had been cooking. Whether that dish is ready to serve or not is a different story, but in a somewhat related development, a report from the China Business News has suggested that Apple is going to open a facility in Shanghai this summer.
Apple was reportedly going to start a R&D facility in China, but some recent reports have indicated that the company is going to manage many other functions at the new facility for which it has already started hiring people. Apple has registered three buildings in Pudong area and will pay over $8 million in rent per year.
This development goes to show how important the Chinese market has become for Apple. Collaboration with China is going to help Apple in a number of ways. In his recent visit to China, Cook met with the chairman of China Mobile, which is the largest mobile carrier as far as subscribers are concerned. Apple’s seemingly positive association with the company, Cook’s remarks implying China is one of the biggest markets for Apple and now the new facility, all these developments indicate that Apple is going to explore some new avenues in an entirely different way.
It should be noted that at present Apple’s shares are on a decline and there are fears of relatively slower growth in the current quarter. But Cook has already made it clear that everyone at Apple is looking for securing long-term prospects. This could mean that during the next couple of years Apple might surprise the market by once again topping it, though it is still too early to predict it.
Source: TechChrunch
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