Apple Inc., an American multinational technology company, headquartered in Cupertino, has announced that the company will set up its first global development and research centre in Hyderabad. Apple will build its technology development centre outside the US in Hyderabad with an investment of $25 million (Rs 170 crore), likely to employ about 4,500 people. Apple's centre will occupy 250,000 square feet in Tishman Speyer's WaveRock facility in the city's IT corridor and is set to start in the later half of this year.
Apple, in an official statement, said, "We’ve been investing to expand our operations in India and are thrilled to have passionate customers and a vibrant developer community across the country. We are looking forward to opening a new development office in Hyderabad that will be home to over 150 Apple employees supporting maps development. The office will also have space for many contractors who will support our ambitious efforts locally".
Jayesh Ranjan, Secretary to IT department in the state of Telangana, said, "It’s a very positive development as Apple has not looked at cities only in India, but across many places in Europe and other parts of the world. Their decision to have the facility in Hyderabad is a strong endorsement of the city as a major IT hub in the country".
Earlier this month, there were reports of Apple getting clearance to open retail stores in India too. Department of Industrial Policy and Promotion (DIPP) secretary Amitabh Kant had confirmed about receiving Apple’s application. A report said that the Indian government is planning to push through Apple’s application to set up outlets. “Apple should qualify as a provider of cutting-edge technology. That would exempt the maker of iPhones and iPads from a rule forcing foreign businesses that retail a single brand in India to procure 30 percent of a product’s inputs locally,” the report adds. It's worth mentioning that the Apple makes most of its products in China.
This doesn’t come as a surprise as Apple is looking to expand markets in a bid to prove the most recent predictions wrong. Unlike others, Apple hasn’t tapped the potential of emerging markets like India and is heavily reliant on third-party resellers in India. Soon after Katy Huberty’s predicted six percent drop in profits, a first of sorts, Apple’s forecast revealed its first ever projected revenue drop in 13 years. This was driven, in part, by the slowest-ever increase in iPhone shipments as the Chinese market, critical to Apple’s growth, showed signs of weakening.