Report: Two retail powerhouses hope to set up shop in Saudi Arabia
Apple and Amazon are exploring how to set down some roots in Saudi Arabia.
Both companies are eager to invest in Saudi Arabia — a move that will give the conservative kingdom a high-tech boost, according to Reuters.
According to the report, both tech companies are in licensing discussions with Riyadh, the country’s capital and most populous city. A source also confirmed that Apple was in talks with SAGIA, Saudi Arabia’s foreign investment authority.
While both companies already sell products in the country via third parties, this move would give Apple and Amazon the opportunity to establish a direct presence. However, the goals of the tech giants are very different.
Apple is targeting a licensing agreement to operate Apple stores. An agreement with SAGIA is expected by February, and an initial retail store is targeted to open in 2019, two sources said in the report.
Meanwhile, Amazon’s discussions are being led by its cloud computing division Amazon Web Services (AWS). The move would introduce stiff competition in a market currently dominated by smaller local providers like STC and Mobily, according to Reuters.
Amazon’s talks are in earlier stages, and no specific date has been set for investment plans, the report said.
To read more, click here.
Both companies are eager to invest in Saudi Arabia — a move that will give the conservative kingdom a high-tech boost, according to Reuters.
According to the report, both tech companies are in licensing discussions with Riyadh, the country’s capital and most populous city. A source also confirmed that Apple was in talks with SAGIA, Saudi Arabia’s foreign investment authority.
While both companies already sell products in the country via third parties, this move would give Apple and Amazon the opportunity to establish a direct presence. However, the goals of the tech giants are very different.
Apple is targeting a licensing agreement to operate Apple stores. An agreement with SAGIA is expected by February, and an initial retail store is targeted to open in 2019, two sources said in the report.
Meanwhile, Amazon’s discussions are being led by its cloud computing division Amazon Web Services (AWS). The move would introduce stiff competition in a market currently dominated by smaller local providers like STC and Mobily, according to Reuters.
Amazon’s talks are in earlier stages, and no specific date has been set for investment plans, the report said.
To read more, click here.