Apple sets up its first R&D center in China

Unit to focus on developing computers, software, audio and video devices for firm's customers in nation and internationally

Apple Inc has set up its first Chinese research and development center in Wangjing area of Beijing, with registered capital of 100 million yuan ($14.99 million), as the US tech giant wrestles with tumbling smartphone sales and mounting competition from local rivals.

The R&D unit will have about 500 employees and its total investment will eventually reach 300 million yuan, according to the official WeChat account of the administrative committee of Zhongguancun Science Park.