Apple to set up R&D center in Shenzhen

The company is looking to spur growth in the second biggest economy in the world as it is facing competition. Apple CEO, Tim Cook, unveiled the plans of the R&D center during a meeting with officials Shenzhen, Reuters report citing the Shenzhen Economic Daily. "We are excited to be opening a new Research and Development center here next year so our engineering team can work even more closely and collaboratively with our manufacturing partners," Apple spokesman Josh Rosenstock told Reuters in an emailed statement. The new center – together with the an R&D center in Beijing, which is planned to open later this year – will work towards strengthening the American company’s relationships with local players and universities.