Apple Launches Online Store in Saudi Arabia, Plans Physical Expansion by 2026
In addition to product availability, Apple's Saudi-specific website will offer dedicated local features such as Arabic language support and Arabic engraving options for selected products. The Apple Store app is also being introduced in the region, enhancing the digital shopping experience for Saudi users.
Until now, customers in Saudi Arabia have had to rely on authorized resellers to purchase Apple products. While the App Store has been accessible in the region for years, the launch of the full online retail experience brings Saudi consumers in line with Apple's global customer base. The move not only represents increased access to Apple's ecosystem but also highlights the company's interest in building a closer relationship with the country's tech-savvy population.
The retail expansion into Saudi Arabia comes as part of a broader wave of investment by major U.S. tech companies in the kingdom. Over recent months, firms like Amazon, Google, Nvidia, and AMD have entered multi-billion-dollar partnerships with Saudi-backed ventures, signaling an industry-wide trend of deeper engagement with the region.
One significant development occurred during U.S. President Donald Trump's May visit to the Middle East. On that occasion, Crown Prince Mohammed bin Salman announced the creation of Humain, an artificial intelligence company owned by Saudi Arabia's Public Investment Fund. On the same day, several major U.S.-based technology companies announced large-scale collaborations with the new AI firm.
Despite this influx of capital and corporate partnerships, Saudi Arabia remains under scrutiny for its human rights record. However, these concerns have not slowed the pace of tech expansion into the region, with companies often citing strategic growth opportunities and access to an increasingly digital population.
Apple's entry into Saudi Arabia's direct-to-consumer market reflects a long-term vision to grow its footprint in the Gulf. The new online store provides Saudi customers with an opportunity to engage more directly with Apple's product ecosystem and services, while future physical stores promise a more immersive retail experience akin to the company's global outlets.
With tech giants racing to tap into the region's economic diversification and digital transformation initiatives, Apple's Saudi debut signals that the kingdom is fast becoming a key player in the global tech landscape.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
7 minutes ago
- Economic Times
Specialised Investment Funds can offer retail MF investors access to PMS-type investing but should you rush in?
A new investment vehicle—specialised investment fund (SIF)—is set to enter the market. Synopsis Many investors may feel they have outgrown the simplicity of mutual funds, having stuck to them for years, and seek the sophisticated complexities usually available to larger portfolio holders. However, SIFs are relatively new and lack a proven track record. With the nod of the Securities and Exchange Board of India (Sebi) earlier this year, a new investment vehicle—specialised investment fund (SIF)—is set to enter the market. Positioned as a middle ground between mutual funds and portfolio management services (PMS), SIFs offer greater risk-taking potential and more sophisticated strategies within a regulated framework, targeting so-called 'seasoned' investors who can commit Rs.10 lakh to start with. ADVERTISEMENT Many think only large investors have access to complex, often secret, and exotic investment strategies. However, with SIFs allowed to pursue differentiated strategies rather than regular mutual funds, retail mutual fund investors are showing strong interest — more so as a lot of them always wanted to try PMS but could not meet its high investment threshold of Rs.50 lakh. Several asset management companies (AMCs) are gearing up to enter this market. Some have already created new SIF-specific entities, as required by Sebi. However, we are yet to see the launch of individual strategies. To be sure, the SIF will have strategies, just like a mutual fund has schemes. The regulator also mandates this difference in nomenclature to help investors avoid too early to say. As a concept, SIF will compete with PMS — not just by virtue of its lower investment threshold but because it offers the same investor-friendly taxation as mutual funds, compared to the more complicated tax liabilities associated with PMS. Hence, the arrival of SIFs is a welcome development, despite some expected opposition to new financial products, as controlled financial innovation is vital for the evolving Indian market as a whole. Short Explainer on Long-short Strategies: These aim to generate positive returns regardless of market direction by holding both long (buy) & short (sell) positions, either to hedge against losses, create a market-neutral portfolio, or adjust positions based on expected market movements. Fund managers may use these strategies to capitalise on relative performance between stocks or sectors, such as going long on undervalued stocks & shorting overvalued ones. However, these strategies require skillful decision-making, involve more active calls, & are harder to someone with Rs.10 lakh to invest, SIFs may seem exciting, like a ticket to an exclusive club earlier reserved only to big investors. But is rushing into this 'Mini-PMS' a smart move? For the sake of discussion, let's limit ourselves to only three equity-oriented strategies allowed for SIFs (others being two in debt, and another two in the hybrid space; refer to the table). One needs to think critically about what purpose SIF will serve in one's portfolio, which already includes equity mutual funds. Even though equity SIFs will operate like equity funds and are allowed to have more concentrated portfolios, they have one distinct feature that permits greater risk-taking. Unlike mutual funds, SIFs can engage in derivatives (futures/options) without holding the underlying assets. This allows SIFs to take unhedged short positions, i.e. betting on price declines, up to 25% of the fund's value. While this capability provides more flexibility, it also introduces higher risks, as concentrated investments can amplify both profits and losses, and complex short-selling strategies demand precise market foresight by the fund manager. This flexibility does not guarantee that SIFs will deliver better results than mutual funds. ADVERTISEMENT Many investors may feel they have outgrown the simplicity of mutual funds, having stuck to them for years, and seek the sophisticated complexities usually available to larger portfolio holders. Combined with the financial or emotional restraints of investing a larger sum, the SIF may seem an appealing solution. However, SIFs are relatively new and lack a proven track record. Once launched, it would be essential to examine how fund managers approach them, as each may use unique investment strategies and portfolio management styles. For example, some might focus on aggressive short-selling or concentrated debt positions, while others may prioritise a market-neutral strategy, leading to varied risk and return profiles. Before committing to SIFs, investors must take time to understand these differences and assess how each fund's management aligns with their goals. ADVERTISEMENT It is better to wait and watch. Investing in something untested, no doubt, is glamorous, but it could also unnecessarily increase risks. So, consider SIFs later once they have established some credibility as a concept and have demonstrated desirable investment outcomes. This may sound boring, but the fact is that your existing, basic equity funds remain a super-product for most of your investment needs! If you still want to test the waters and have `10 lakh to spare, ensure you have the stomach for the risk that comes with SIFs. Just remember: in regulated markets, there's no magic formula or surefire way to get rich quick. The Author is FOUNDER, STABLEINVESTOR ADVERTISEMENT (Disclaimer: The opinions expressed in this column are that of the writer. The facts and opinions expressed here do not reflect the views of (Catch all the Personal Finance News, Breaking News, Budget 2025 Events and Latest News Updates on The Economic Times.) Subscribe to ET Prime and read the ET ePaper online. NEXT STORY
Time of India
34 minutes ago
- Time of India
Samsung Electronics signs $16.5 billion deal to make chips for global firm
SEOUL: Samsung Electronics said on Monday it has signed a $16.5 billion deal to supply chips for an unidentified major global company, sending its shares up 3.5%. The South Korean tech giant said the deal signed on Saturday was for contract chip manufacturing and details of the agreement including the counterpart and terms would not be disclosed until the contract is completed at the end of 2033. The deal comes as Samsung is struggling to compete in the race to make artificial intelligence chips, which has hit its profits and share price. Samsung has customers like Tesla and Qualcomm for its foundry business, while bigger rival TSMC has customers like Apple and Nvidia. The deal comes as South Korea is seeking U.S. partnerships in chips and shipbuilding as it is making last-ditch efforts to reach a trade deal to eliminate or cut potential 25% U.S. tariffs. It is not clear how the order would affect Samsung's plan to start production at its new factory in Texas, which has been delayed as it had struggled to win major customers. Samsung is grappling to boost production yields of its latest 2-nanometer technology, and the order is unlikely to involve the cutting-edge tech, Lee Min-hee, an analyst at BNK Investment & Securities, said. Samsung has been losing market share to TSMC in contract manufacturing , underscoring technological challenges the firm faces in mastering advanced chip manufacturing to lure the likes of Apple and Nvidia away from TSMC, analysts said.
&w=3840&q=100)
Business Standard
34 minutes ago
- Business Standard
Stocks to Watch today, July 28: TCS, SAIL, Shriram Finance, Aadhar Housing
Stocks to Watch Today, Monday, July 28, 2025: The domestics stock markets today could open flat-to-positive with GIFT Nifty futures trading 7 points higher at 24,838 at 7:56 AM. Global markets traded mixed on Monday as investors awaited further clarity on US-China trade negotiations set to begin in Stockholm later today. In the Asia-Pacific region, Japan's Nikkei 225 benchmark fell 0.85 per cent, while South Korea's Kospi index was trading 0.15 per cent higher. Australia's ASX 200 also edged up, gaining 0.2 per cent. Earlier on Friday, July 26, Wall Street's major indices ended higher as investors braced for a busy week ahead, which includes a Federal Reserve policy meeting, key corporate earnings reports, and President Donald Trump's August 1 deadline for negotiating trade deals. The S&P 500 rose 0.40 per cent, the tech-heavy Nasdaq Composite added 0.24 per cent, and the Dow Jones Industrial Average closed up 0.47 per cent. Meanwhile, here is a list of stocks to watch today: Tata Consultancy Services (TCS): India's largest IT services firm plans to cut its global workforce by around 2 per cent, or approximately 12,260 employees, over the current financial year. The move is aimed at enhancing agility amid a shift toward AI-driven business transformation. Aadhar Housing Finance: BCP Topco VII Pte. Ltd., the promoter of Aadhar Housing Finance, has signed an agreement to sell up to 64.14 per cent stake in the company to BCP Asia II Holdco VII Pte. Ltd. at a price not exceeding ₹425 per share, in one or more tranches, subject to regulatory approvals. Additionally, the Acquirer, along with Blackstone Capital Partners (CYM) IX AIV - F L.P. (PAC 1) and Blackstone Capital Partners Asia II L.P. (PAC 2), has launched an open offer to acquire a further 25.82 per cent from public shareholders at ₹469.97 per share, amounting to a total of ₹5,335 crore payable in cash, according to the regulatory filing submitted by Aadhar Housing Finance. Whirlpool India: Consumer durables maker reported a marginal increase in its consolidated net profit to ₹146.08 crore for the June 2025 quarter. The company had posted a net profit of ₹145.25 crore during the corresponding quarter of the previous fiscal. Its revenue from operations slipped 2.58 per cent to ₹2,432.32 crore during the quarter under review. It was ₹2,496.86 crore in the corresponding period of the previous fiscal. Shriram Finance: The non-banking finance company (NBFC) has posted a consolidated net profit of ₹2,159.39 crore during the first quarter of the financial year 2025-26, up 6 per cent from ₹2,030.64 crore during the April to June quarter of 2024-25. Balkrishna Industries: The company reported a decline of 41.2 per cent in its profit to ₹288.3 crore in Q1FY26 from ₹490 crore reported in Q1FY25. During the quarter under review, the company's revenue, however, witnessed a rise of 1.7 per cent Y-o-Y to ₹2,760 crore from ₹2,714 crore. Balkrishna Industries' earnings before interest, taxes, depreciation and amortisation (Ebitda) stood at ₹506 crore in Q1FY26, down 24 per cent Y-o-Y from ₹664 crore. Steel Authority of India (SAIL): The state-owned company reported a multifold jump in standalone net profit to ₹685.48 crore in Q1FY26, against ₹10.68 crore posted in Q1FY25. The company's revenue from operations rose 8.01 per cent Y-o-Y to ₹25,921.46 crore in the quarter ended 30 June 2025. The company's Ebitda stood at ₹2,925 crore in Q1FY26, marking a 20.86 per cent increase from ₹2,420 crore reported in the same quarter last year. Kotak Mahindra Bank: Kotak Mahindra Bank reported a 40 per cent year-on-year (Y-o-Y) decline in its consolidated net profit to ₹4,472.18 crore in the April–June quarter of the financial year 2025-26 (Q1FY26), mainly due to the gain of ₹3,013 crore it had earned in the year-ago quarter from the divestment of a 70 per cent stake, through a combination of fresh growth capital and share sale, in its subsidiary Kotak Mahindra General Insurance Company (KGI) to Zurich Insurance Company. The consolidated net profit in the year-ago quarter was ₹7,448.16 crore. Zen Technologies: The company's revenue stood at ₹158.22 crore, reflecting a quarter-on-quarter (Q-o-Q) decrease of 51.31 per cent from ₹324.97 crore. This corresponds to a Y-o-Y decline of 37.86 per cent. Net profit stood at ₹47.75 crore, reflecting a Q-o-Q decrease of 52.75 per cent from ₹101.05 crore, and a decline of 37.83 per cent Y-o-Y. Q1FY26 results today IndusInd Bank, Bharat Electronics, Adani Green Energy Limited, Torrent Pharmaceuticals, GAIL India, Mazagon Dock Shipbuilders, Waaree Energies, NTPC Green Energy, Adani Total Gas, Nippon Life India Asset Management, Ajanta Pharma, Go Digit General Insurance, Piramal Pharma, Motherson Sumi Wiring India, KEC International, Five-Star Business Finance, Paradeep Phosphates, Gravita India, and Railtel Corporation of India are set to announce their Q1FY26 results today. Vijaya Diagnostic Centre, IIFL Capital Services, Transport Corporation of India, CarTrade Tech, TTK Prestige, Archean Chemical Industries, Arvind Fashions Limited, JK Paper, Thangamayil Jewellery, Laxmi Organic Industries, NACL Industries, Apollo Micro Systems, Fedbank Financial Services, Quess Corp, Mangalore Chemicals and Fertilisers, Flair Writing Industries, Arvind SmartSpaces, Xpro India, Aeroflex Industries, Mold-Tek Packaging, Astec Lifesciences, Sanghi Industries, and Systematix Corporate Services will also announce their earnings on Friday, July 25, 2025.
