Amazon Invests $11 Billion to Expand Cloud and Logistics in Germany

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)
Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)
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Amazon Invests $11 Billion to Expand Cloud and Logistics in Germany

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)
Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. (Reuters)

Amazon will invest 10 billion euros ($10.75 billion) as demand for its cloud services and retail goods in Europe's biggest economy keeps growing, the US technology and retail company said on Wednesday.

The greater part of the sum, 8.8 billion euros, will be spent by 2026 to expand the cloud infrastructure of its computing unit Amazon Web Service (AWS), as it sees rising potential in Artificial Intelligence (AI)-driven technologies in Europe, Reuters reported.

German Chancellor Olaf Scholz praised the investment that would create more than 4,000 jobs this year by saying it underlines the country's attractiveness for investors.

Berlin is dealing with an economic downturn triggered by high energy costs and interest rates, as well as under-investment due in part to red tape.

The announcement brings the total amount of Amazon's planned investments in Germany to 17.8 billion euros.

AWS was considering multi-billion investments in the expansion of its data centres in Italy, Reuters reported in May.

 

 

 

 

 

 



Apple's iPhone Sales Capture Top Spot in Chinese Market in May, Counterpoint Research Says

FILE PHOTO: Signage is seen at the Apple Fifth Avenue store for the release of the Apple iPhone 14 range in Manhattan, New York City, US, September 16, 2022. REUTERS/Andrew Kelly/File Photo
FILE PHOTO: Signage is seen at the Apple Fifth Avenue store for the release of the Apple iPhone 14 range in Manhattan, New York City, US, September 16, 2022. REUTERS/Andrew Kelly/File Photo
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Apple's iPhone Sales Capture Top Spot in Chinese Market in May, Counterpoint Research Says

FILE PHOTO: Signage is seen at the Apple Fifth Avenue store for the release of the Apple iPhone 14 range in Manhattan, New York City, US, September 16, 2022. REUTERS/Andrew Kelly/File Photo
FILE PHOTO: Signage is seen at the Apple Fifth Avenue store for the release of the Apple iPhone 14 range in Manhattan, New York City, US, September 16, 2022. REUTERS/Andrew Kelly/File Photo

Apple's iPhone sales rose to the top spot in China in May, with global sales growing 15% year-on-year during April and May in the tech giant's strongest performance for the two-month period since the COVID-19 pandemic, data from Counterpoint Research showed.

The increase in global sales was primarily driven by a return to growth in Apple's two largest markets, China and the United States, preliminary data from Counterpoint Research showed.

The company was aided in part by tariff dodgers and also saw double-digit increases in Japan, India and the Middle Eastern markets, Reuters quoted Counterpoint as saying.

"Q2 iPhone performance looks promising at the moment, but as always, swings either way are dictated by two markets - the US and China," Ivan Lam, Senior Analyst at Counterpoint Research said.

Calculations based on data from the government-affiliated China Academy of Information and Communications Technology showed that April shipments of foreign-branded phones in China rose to 3.52 million units from 3.50 million a year earlier.

Apple has faced increased competition from domestic rivals in China and has resorted to price cuts to stay competitive.

Chinese e-commerce platforms were offering discounts of up to 2,530 yuan ($351) on Apple's latest iPhone 16 models in May.