Mar 20, 2017 (ACCESSWIRE via COMTEX News Network) -- Upcoming AWS Coverage on Eastman Kodak Post-Earnings Results
LONDON, UK / ACCESSWIRE / March 20, 2017 / Active Wall St. blog coverage looks at the headline from Apple Inc. (NASDAQ: AAPL) as the Company announced in Beijing on March 17, 2017, that it will set up two Research and Development (R&D) Centers, one at Shanghai and the other at Suzhou. This is in addition to the Company's existing R&D center at Beijing and a planned one at Shenzhen. Register with us now for your free membership and blog access at:
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Commenting on the development Dan Riccio, Apple's Senior Vice President of Hardware Engineering said:
"We are looking forward to working with more local partners and academic institutions through the expansion of R&D centers in China. We are honoured to have access to excellent talent and a positive entrepreneurial spirit in the region, where our developers and suppliers will be working together."
The R&D Centers
Apple has allocated approximately 3.5 billion yuan ($507 million) for the development of these R&D centers in China. These R&D Centers are slated to open in the later part of 2017. The R&D Centers will focus on developing technologies and expertise in the Supply Chain function. Apple will be working with local Chinese Technology partners to develop new technologies and services which will benefit its customers in China as well as across the globe. The technical experts and talent working on these R&D matters will be sourced from local Chinese Universities like Peking University, Tsinghua University, and Shanghai Jiaotong University, etc.
R&D has been the backbone behind the success of Apple and its products. However, China has been a challenging market. The use of local people and technology partners will help Apple get a better understanding of the Chinese market and help the Company deepen its market penetration in China.
Apple is currently sponsoring internship programs across various Chinese Schools so as to line-up the next generation of entrepreneurs. According to Apple, the Company has created 4.8 million jobs in China till date through its 22 offices and 46 retail outlets.
The details were shared by the Company on its Chinese website.
The announcement has been made by Apple on its Chinese website a day before Apple CEO, Tim Cook visited China. Tim Cook attended the China Development Forum in Beijing, China on March 18, 2017. He met with top government officials at this event and the announcement is seen as an image boosting exercise by Apple to appease the Chinese Government.
China has been one of the biggest and most important markets for Apple outside the US. In recent times, sales of Apple's iPhone were down as local smartphone manufacturers like Huawei Technologies, Xiaomi, Oppo and Vivo offered tough competition. These Companies have eaten into Apple's market share by offering high-end yet low-cost smartphones with comparable features as those available in an iPhone.
The timing of the announcement also coincides with the upcoming 10th anniversary edition of Apple's iPhone which will be launched soon. Apple is hoping that the new launch will give a boost to its sales and regain lost market share and leadership.
At the close of trading session on Friday, March 17, 2017, Apple's stock closed the trading session at $139.99, slightly falling 0.50% from its previous closing price of $140.69. A total volume of 43.68 million shares have exchanged hands, which was higher than the 3-month average volume of 26.56 million shares. Apple's stock price surged 22.06% in the last three months, 22.28% in the past six months, and 35.11% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have surged 21.39%. The stock is trading at a PE ratio of 16.76 and has a dividend yield of 1.63%.
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