Apple Invests $1.2 Billion Into Europe’s Semiconductor Industry
Apple Inc. the United States based technology company, has announced plans to invest $1.2 billion into a wireless semiconductor design center in Munich, Germany. The focus of this investment is reportedly to build on 5G and other wireless technologies, and is expected to be completed over the next three years.
Munich is already a hub for semiconductor manufacturing within Europe, and this investment boost is part of a wider attempt to make Europe a larger overall player in the semiconductor market worldwide. Europe as a whole aims to make up 20% or more of the global semiconductor sector within the coming years.
This all comes at a time when semiconductor manufacturing companies, and the market as a whole, has seen vast shortages. Europe, along with the United States and China, are all aiming at increasing their chip manufacturing output as the world begins to recover from the COVID-19 virus.