Global tech giant Apple is planning to invest US$1 billion in a Hanoi-based data center.
After sinking US$673,000 into its subsidiary, Apple Viet Nam, in October 2015, the company behind some of the world's most iconic technology announced its intention to build an Asia-focused Research & Development (R&D) center in the Vietnamese capital, reports The Nation.
Last year, Apple spent 3% of its revenue on R&D activities worldwide, or the equivalent of over US$8 billion. Its current R&D centers are located in the United States, England, China, Taiwan and Israel with forthcoming centers in India and Japan as well.
While this appears to be the beginning of a fruitful partnership between Apple and Vietnam, the tech company's competition is not far behind: rival Samsung also plans to open a new US$300 million R&D center in Hanoi.
Currently, Apple products in Vietnam are either distributed by its authorized sellers or carried into Vietnam via hand luggage. There is hope that the firm will soon open its own stores in Vietnam, a move which may be foreshadowed by the company's recent job postings for directors of iPhone distribution and iOS retail.
Last year, Apple launched its music service in Vietnam. Its cofounder, Steve Wozniak, also paid a visit to the country in 2015.
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