During the visit to Singapore, Apple CEO Tim Cook announced a record investment plan of 250 million USD into Lion City.
Singapore is the latest stop in the "Apple" head's tour around the Southeast Asian Region, with the goal of explanding production facilities and increasing device sales amid challenging business conditions in Chine.
Bloomberg, citing anonymous sources, stated that Time Cook's visit will extend until Friday (April 19), during which he will meet with the current Prime Minister Lee Hsien Loong and Hong Tuan Tai (Lawrence Wrong) - who is expected to become the country's fourth Prime Minister in the near future.
Singapore is the regional hub for the Copertino tech giant, playing a crucial role in hardware, software, services, and support. Apple currently has 3,600 employees here. With a $250 million investment plan, Apple has announced it will expland Singapore's role, including in artificial intelligence technology.
Apple said the $250 million investment plan will help expand the space to take a new roles in Singapore
The Lion City is also the final stop for CEO Tim Cook on his Southeast Asia tour. Prior to this, he visited Vietnam and Indonesia. In Hanoi, he met with Prime Minister Pham Minh Chinh, developers, an consumers, but did not disclose specific investment plans. In Indonesia, Apple's CEO told President Widodo that they would consider establishing the company's first production base there.
Apple's plan aims to expand the Ang Mo Kio campus by upgrading two buildings acquired since 2022. In a press release, the tech giant stated that this will create "connections between unique spaces to foster collaboration among Apple development groups."
The U.S. tech behemoth first established its presence in Singapore in 1981 with 72 employees and has continuously expanded to the current scale of 3,600. The company currently operates three Apple Stores here. Throughout its operations, Apple is credited with supporting the creation of 60,000 jobs through direct employment, the supply chain, and the iOS app economy.
The new investment will also upgrade the company's infrastructure and labs, including a 50% expansion of the hardware center.
"Singapore is trulu unique, and we are proud of the connections the company has built with this vibrant community of innovators, learners, and dreamers," said CEO Tim Cook.
The expanded facility of Apple here will run on 100% renewable energy, similar to the company's other facilities. Apple has achieved carbon neutrality in all its business operations since 2020, and has been using renewable energy since 2018.
Since the beginning of this year, the tech giant has opened an online Apple Store in Vietnam and is reportedly recruiting for its first retail center in Malaysia.
Data from IDC earlier this week showed a 10% global decline in iPhone shipments compared to the same period in the first quarter of 2024.
According to Canalys, the smartphone market in the Southeast Asia region is forecasted to grow by 7% compared to the same period last year in 2024, much faster than the rest of the world at 3%.
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