Tim Cook dinner, main government officer of Apple Inc., centre, arrives at Apple Developer Academy at Binus College in Tangerang, Banten, Indonesia, on Wednesday, April 17, 2024.
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Apple’s Tim Cook is in Singapore for the latest leg of his whirlwind tour all-around Southeast Asia as the CEO pivots toward the region for growth and product sales development amid struggles in China.
Prepare dinner verified his arrival in Singapore on his official X (formerly regarded as Twitter) account Thursday, putting up a online video of himself with a community photographer at the city’s famed Gardens by the Bay vacationer attraction.
According to anonymous resources cited in a Bloomberg report, Cook’s go to will past right until Friday and consist of a meeting with the metropolis-state’s following key minister, Lawrence Wong, as very well as incumbent Lee Hsien Loong. Lee will formally stage down on Could 15 immediately after 20 decades as the head of govt. Wong will turn into Singapore’s fourth primary minister.
Cook’s arrival in the city follows Apple’s announcement of options to commit in excess of $250 million into its functions in Singapore. While the tech giant previously employs 3,600 people in the state, Apple mentioned the growth will present house for new roles, together with in synthetic intelligence.
The nation serves as a regional hub for the Cupertino, California-dependent tech big, with important roles in application, hardware, providers and guidance, the corporation explained.
The meeting with the key minister is expected to conclude Cook’s tour close to Southeast Asia that observed the CEO make stops in Vietnam to meet up with with Apple builders and end users, and Indonesia, where by he fulfilled with President Joko Widodo.
Bloomberg described that Cook’s timetable was packed with public things to do to generate curiosity in the manufacturer, which could pave the way for a far more intense regional sales campaign.
Apple did not instantly answer to a CNBC request for remark about Cook’s itinerary.
This calendar year, the business released an on the net Apple Retail outlet in Vietnam and has reportedly been hiring for its very first retail centre in Malaysia.
Greater business in Southeast Asia could enable offset the company’s the latest headwinds. Figures released Monday by the Global Facts Corporation showed world wide Apple iphone shipments fell 10% from a yr back in the very first quarter amid greater competitiveness in China.
Smartphone income in China, Apple’s most significant overseas market place, have also been in a lull as opposed to Southeast Asia, where sales had been booming at the get started of the yr.
The region’s cell phone current market is forecasted to mature 7% year-in excess of-yr in 2024, substantially speedier than a 3% charge for the relaxation of the world, in accordance to info from Canalys.
Cook dinner has also made use of his most up-to-date travels to highlight Southeast Asia as an important manufacturing hub.
The corporation has pushed to diversify its source chain further than its foundation in China considering the fact that 2022, when it knowledgeable pandemic-related supply disruptions.
Vietnam has already grow to be a essential manufacturing site amid diversification initiatives. Meanwhile, Prepare dinner mentioned on Wednesday that the firm will “look at” manufacturing in Indonesia.