Companies
Apple R&D set for Shenzhen
Premier Li Keqiang meets with Apple CEO Tim Cook during the second National Mass Entrepreneurship and Innovation Week in Shenzhen on Wednesday. Wu Zhiyi / China Daily
Apple Inc will set up its second China research and development center in Shenzhen next year, to strengthen ties with local manufacturing partners, as the US tech giant struggles with mounting competition and declining smartphone sales.
The plan came shortly after it established a R&D center in Beijing, highlighting the importance of the China market, the world’s largest smartphone arena where Apple is losing ground to local brands such as Huawei and Oppo.
Apple CEO Tim Cook unveiled the plan for the new center on Tuesday during his visit to Shenzhen, the southern Chinese manufacturing powerhouse and innovation hub.
The Shenzhen center will help “our engineering team work even more closely and collaboratively with our manufacturing partner”, Apple said in an emailed statement to China Daily.
“Shenzhen is an incredibly vibrant city where we are proud to support over 200,000 jobs between advanced manufacturing and the growing (mobile) app economy,” the firm added.
The California-headquartered firm did not disclose the scale of its investment in the new venture.
Apple had set up its first China research and development center in Wangjing area of Beijing, with total investment to reach 300 million yuan ($44.6 million).
Jin Di, research manager at International Data Corp China, said unlike the Beijing center which focuses on partnership with universities, the Shenzhen unit will help Apple optimize its supply chain management.
“Shenzhen is home to Apple’s major manufacturing and distribution partners.
The new center can help it better localize products, especially when the industry is often suffering from shortage of components.”
According to Jin, the two R&D centers are likely to play an active role in designing Apple’s future iPhones and other hardware.
During his…
China
Government subsidies don’t boost Chinese firms’ productivity
China’s industrial subsidies have caused considerable controversy both internationally and domestically. Trading partners have accused China of unfairly favouring its indigenous firms with subsidies, leaving foreign companies at a disadvantage in the race to lead the technologies of the future.
Governments around the world regularly spend an enormous amount of money subsidising businesses. But few spend like China. A 2022 report suggests that China spends 1.7–5 per cent of its GDP on industrial policies, more than most countries.
(more…)Companies
Chinese Smartphone Manufacturer Lays Off 3,000 Employees Following Closure of Chip Design Division
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
OPPO, a major Chinese smartphone maker, announced the closure of its chip design company ZEKU Technology (ZEKU).
(more…)Companies
Company Owned by Chinese Billionaire Guilty of Paying $1 Million in Bribes to LA Councilman
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
A Los Angeles real estate firm owned by a Chinese billionaire is guilty of paying more than $1 million in bribes to a Los Angeles city councilman as part of a scheme that involved luxury cruises, high-rolling trips to casinos, and prostitution.
(more…)- China’s November 2024 Economy: Navigating Mixed Signals and Ongoing Challenges
- Ukraine war: 10% of Chinese people are willing to boycott Russian goods over invasion – new study
- Australia Can Enhance China’s Credibility in the CPTPP
- Gordonstoun Severs Connections with Business Led by Individual Accused of Espionage for China
- China Dismantles Prominent Uyghur Business Landmark in Xinjiang – Shia Waves
- China Expands Nationwide Private Pension Scheme After Two-Year Pilot Program
