PC maker Dell is setting its sights on China in a big way.
The computer company announced Thursday that it is planning to invest $125 billion in China over the next five years.
“The Internet is the new engine for China’s future economic growth and has unlimited potential,” CEO Michael Dell said in a statement.
China is the second-largest market for Dell, which has operated in the country for about 20 years. The company had about $5 billion in annual sales in China before going private in 2013.
With its massive population and burgeoning middle class, China has become a fiercely competitive market for many tech firms. Dell, for its part, announced partnerships with China Electronics and the municipal government of Guiyang earlier this year to bolster its prospects in the country.
More Must-Reads From TIME
- East Palestine, One Year After Train Derailment
- How Tech Giants Turned Ukraine Into an AI War Lab
- In the Belly of MrBeast
- The Closers: 18 People Working to End the Racial Wealth Gap
- How Long Should You Isolate With COVID-19?
- The Best Romantic Comedies to Watch on Netflix
- Taylor Swift Is TIME's 2023 Person of the Year
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
Contact us at firstname.lastname@example.org