Apple Inc. (NASDAQ:AAPL) Set To Open A Development Center In Hyderabad India
India is becoming a major attraction point for technology companies, with Apple Inc. (NASDAQ:AAPL) set to follow Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) and Microsoft Corporation (NASDAQ:MSFT) announcements of Opening up a development center. This will be the first Apple’s development center outside the U.S. Initially Apple had a technology support center in Bengaluru though it closed down due to reports of poor quality service. The development center in Hyderabad will most definitely not suffer the same fate since this region has already showcased its technological ability and is only set to grow. For instance, Microsoft’s Windows 10 was developed here and has turned out to be a global hit.
The proposed center will be built at Tishman Speyer’s WaveRock facility at the Hyderabad’s IT corridor. This is the home for some of the biggest IT firms in the area including the likes of Wipro, Cognizant, Infosys among others. The center is estimated to cost around $25 million and will cover 250,000 square feet of land. Its development will provide the over 4,500 locals with jobs
According to Jayesh Ranja, The Secretary to IT department in the state of Telangana, this move by Apple is very positive since had also considered other cities around the world and had settled in Hyderabad. Apple’s decision to have this center in this region is a very influential endorsement to the city as an important technology hub.
It is worth noting that Apple has always avoided developing core technologies in other countries. In most cases the technology is developed in the US, and the company only outsource commoditized application maintenance to vendors. Apple always seeks the lowest cost for development of products, and this is the reason their products might be developed in other countries e.g. China.
This new center is set to be opened in June and will launch full operation by the end of the year. Through this center, Apple plans to develop maps and make them available to both its iPhones and Mac systems.
Alphabet CEO, Sundar Pichai, and Microsoft CEO, Satya Nadella, while visiting India, in December announced their plans to extend their operations to Hyderabad. It has only been two months, and Apple has announced its plan for the city as well. The city definitely has something worthy to offer.
Disclaimer: The disclaimer is to be read and fully understood before using our site, or joining our email list. GalaxyStocks is not a registered investment adviser. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Investors should always conduct their own due diligence with any potential investment, with independent research and other professional advice. Read full disclaimer at http://galaxystocks.com/disclaimer/