Tim Cook dinner, chief government officer of Apple Inc., middle, arrives at Apple Developer Academy at Binus College in Tangerang, Banten, Indonesia, on Wednesday, April 17, 2024.
Bloomberg | Bloomberg | Getty Pictures
Apple’s Tim Cook dinner is in Singapore for the most recent leg of his whirlwind tour round Southeast Asia because the CEO pivots towards the area for growth and gross sales progress amid struggles in China.
Cook dinner confirmed his arrival in Singapore on his official X (previously often known as Twitter) account Thursday, posting a video of himself with a neighborhood photographer on the metropolis’s well-known Gardens by the Bay vacationer attraction.
In line with nameless sources cited in a Bloomberg report, Cook dinner’s go to will final till Friday and embody a gathering with the city-state’s subsequent prime minister, Lawrence Wong, in addition to incumbent Lee Hsien Loong. Lee will formally step down on Could 15 after 20 years as the pinnacle of presidency. Wong will turn out to be Singapore’s fourth prime minister.
Cook dinner’s arrival within the metropolis follows Apple’s announcement of plans to take a position over $250 million into its operations in Singapore. Whereas the tech big already employs 3,600 individuals within the nation, Apple stated the growth will present area for brand new roles, together with in synthetic intelligence.
The nation serves as a regional hub for the Cupertino, California-based tech big, with crucial roles in software program, {hardware}, providers and assist, the corporate stated.
The assembly with the prime minister is predicted to conclude Cook dinner’s tour round Southeast Asia that noticed the CEO make stops in Vietnam to satisfy with Apple builders and customers, and Indonesia, the place he met with President Joko Widodo.
Bloomberg reported that Cook dinner’s schedule was full of public actions to generate curiosity within the model, which might pave the way in which for a extra aggressive regional gross sales marketing campaign.
Apple didn’t instantly reply to a CNBC request for remark about Cook dinner’s itinerary.
This yr, the corporate launched a web-based Apple Retailer in Vietnam and has reportedly been hiring for its first retail middle in Malaysia.
Elevated enterprise in Southeast Asia might assist offset the corporate’s current headwinds. Figures launched Monday by the Worldwide Knowledge Company confirmed international iPhone shipments fell 10% from a yr in the past within the first quarter amid elevated competitors in China.
Smartphone gross sales in China, Apple’s largest abroad market, have additionally been in a lull in comparison with Southeast Asia, the place gross sales have been booming at first of the yr.
The area’s telephone market is forecasted to develop 7% year-over-year in 2024, a lot sooner than a 3% charge for the remainder of the world, in accordance with information from Canalys.
Cook dinner has additionally used his newest travels to spotlight Southeast Asia as an necessary manufacturing hub.
The corporate has pushed to diversify its provide chain past its base in China since 2022, when it skilled pandemic-related provide disruptions.
Vietnam has already turn out to be a key manufacturing location amid diversification efforts. In the meantime, Cook dinner stated on Wednesday that the corporate will “take a look at” manufacturing in Indonesia.
