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Apple Says Spent $60 Billion With US Suppliers in 2018, Created 450,000 Jobs

Apple Says Spent $60 Billion With US Suppliers in 2018, Created 450,000 Jobs

By Indo-Asian News Service | Updated: 29 January 2019 11:44 IST

Highlights

Apple spent $60 billion last year with 9,000 American component suppliers
Since 2011, number of jobs supported by Apple in US has more than tripled
The number has jumped from 600,000 to 2 million across all 50 states

Apple spent $60 billion (roughly Rs. 4,30,000 crores) last year with 9,000 American component suppliers and companies, an increase of more than 10 per cent from the year before - supporting more than 450,000 jobs.

"Since 2011, the total number of jobs created and supported by Apple in the US has more than tripled -- from almost 600,000 to 2 million across all 50 states," the company said in a statement as it readied to announce the results of its first quarter of fiscal 2019 on Tuesday.

Just over a year ago, component manufacturer Finisar was awarded $390 million (roughly Rs. 2,800 crores) from Apple's Advanced Manufacturing Fund.

To expand production of a critical part of the "TrueDepth" camera system, introduced with iPhone X, Finisar turned an unoccupied building in Sherman, Texas into a bustling operation full of people who will supply that future business, said Apple.

Since 2011, the total number of jobs created and supported by Apple in the US has more than tripled -- from almost 600,000 to 2 million across all 50 states, the company informed.

Apple on January 2 revised down its expected revenues from $89 billion to $84 billion for the first quarter of fiscal 2019.

Apple shares fell after it lowered its revenue estimate and President Donald Trump said he was not bothered about the tech giant's concerns.

Trump said that China was the biggest beneficiary of Apple, more than the US "because they build their product mostly in China".

"I told (Apple CEO) Tim Cook, who's a friend of mine, who I like a lot, make your product in the US," the President had said.

In a letter to investors, Cook had acknowledged that the revenue shortfall in its guidance was partly due to China's trade tensions with the US. The slowdown in the Chinese economy also impacted its revenue, he said.

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