Apple to set up development center in Israel

The Apple Retail Store in 5th Avenue New York City. (Apple Website)

The Apple retail store on Manhattan's 5th Avenue. (Apple)

JERUSALEM (JWN)–Apple plans to open a research and development (R&D) center in Israel that will focus on semiconductors. This will be the first time the giant US company is expanding its R&D beyond its California home base.

The daily business paper, Globes, reports that Apple has already hired Israeli hi-tech veteran Aharon Aharon to head operations.

Apple invests only 2 percent of its revenues on R&D, which is relatively low compared to other hi-tech companies. Meanwhile, reports of the development center in Israel came a few days after rumors that Apple is in talks to buy Anobit, an Israeli flash storage maker, for $400 million-$500 million.

Site Last Update: October 30, 2014 - 10:03 am