Apple To Build R&D Facility In China

(RTTNews) - Apple plans to increase its investment in China, the iPhone maker's biggest market after the US, and also set up its first Asia-Pacific research and development center in the country.

Apple Chief Executive Tim Cook pledged the investment during a meeting with senior government officials, China's state media CCTV reported.

Although, China is one of Apple's biggest market, the tech giant is currently facing several headwinds in the country due to increased competition from low-cost Chinese smartphone makers, the shutdown of its online book and movies services, and sluggish demand for its iPhone.

Details about the "independent" research and development center has not been disclosed by Cook or Apple. However, Cook has pledged that the new research and development center will be built by the end of the year.