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Tuesday May 21, 2024

Why is Apple spending $250 million in Singapore?

US tech giant is considering to build regional hub in Southeast Asian city-state

By Web Desk
April 18, 2024
Apple is investing millions in Singapore. — Unsplash/file
Apple is investing millions in Singapore. — Unsplash/file

Apple confirms that it will invest more than $250 million to expand a regional hub in Singapore supporting growth and new undertakings in artificial intelligence (AI) as the US-based tech company aims to diversify its footprint in Asia and cut exposure to China.

Apple would begin construction later this year to expand its existing campus in the Southeast Asian city-state, according to Market Screener.

This will also include the upgrading of two buildings acquired in 2022, in support of its local workforce of more than 3,600 employees, the company said late Wednesday.

As with all of its facilities since 2018, the company added that the expanded campus will run completely on renewable energy.

In 1981, Apple opened its first facility in Singapore and today, it acts as a centre for its operations in the region as well as a hub for personnel involved in software, hardware, services, and support.

As it seeks to diversify its supply chain amid rising US-China tensions and global concerns of decoupling trade, the California-based mobile phone giant is in the midst of boosting investment in Southeast Asia and other areas of Asia.