Apple invests in China's Uber competition Didi Chuxing
Apple has contributed $1bn (£693m) in Didi Chuxing, the auto hailing application that has a more noteworthy piece of the overall industry than US rival Uber in China.
Tim Cook, CEO, said that the move would help Apple to better comprehend the Chinese business sector. Apple has invested $1bn (£693m) in Didi Chuxing, the car-hailing app that has a greater market share than US rival Uber in China.
Tim Cook, chief executive, said that the move would help Apple to better understand the Chinese market.
Didi Chuxing, previously known as Didi Kuaidi, said it represented the single largest investment in its history.
The firm said it provided more than 11 million rides a day and claimed to have 87% of the Chinese market share.
The company is also backed by Chinese internet giants Tencent and Alibaba.
US rival Uber has been struggling to break into the Chinese market despite having won Chinese search engine Baidu as an investor.
In February Uber admitted it was losing more than $1bn a year in China, spending huge sums to subsidise discounted rides.
Mr Cook said he saw many opportunities for Apple and Didi Chuxing to collaborate in the future.
He also stressed the deal was a chance to learn more about China as Apple's second-biggest market.
Apple's ambitions in China has recently hit roadblocks with Chinese regulators shutting down the company's online book and movie services to implement strict rules governing what can be published online.
The move was widely seen as a blow to Apple, which is keen to ensure its products are popular and sell well in China, because it is the second-biggest market for its products.
Apple reported in April that its revenues fell for the first time since 2003 with China marked out as a particular weak spot.
Didi Chuxing, beforehand known as Didi Kuaidi, said it spoke to the single biggest interest in its history.
The firm said it gave more than 11 million rides a day and guaranteed to have 87% of the Chinese piece of the pie.
The organization is likewise supported by Chinese web goliaths Tencent and Alibaba.
US rival Uber has been attempting to break into the Chinese business sector notwithstanding having won Chinese web crawler Baidu as a financial specialist.
In February Uber let it out was losing more than $1bn a year in China, spending gigantic wholes to sponsor reduced rides.
Mr Cook said he saw numerous open doors for Apple and Didi Chuxing to team up later on.
He additionally focused on the arrangement was an opportunity to take in more about China as Apple's second-greatest business sector.
Apple's desire in China has as of late hit barriers with Chinese controllers closing down the organization's online book and motion picture administrations to execute strict principles administering what can be distributed on the web.
The move was broadly seen as a hit to Apple, which is quick to guarantee its items are prominent and offer well in China, since it is the second-greatest business sector for its items.
Apple reported in April that its incomes fell surprisingly since 2003 with China set apart out as a specific frail spot.
Tim Cook, CEO, said that the move would help Apple to better comprehend the Chinese business sector. Apple has invested $1bn (£693m) in Didi Chuxing, the car-hailing app that has a greater market share than US rival Uber in China.
Tim Cook, chief executive, said that the move would help Apple to better understand the Chinese market.
Didi Chuxing, previously known as Didi Kuaidi, said it represented the single largest investment in its history.
The firm said it provided more than 11 million rides a day and claimed to have 87% of the Chinese market share.
The company is also backed by Chinese internet giants Tencent and Alibaba.
US rival Uber has been struggling to break into the Chinese market despite having won Chinese search engine Baidu as an investor.
In February Uber admitted it was losing more than $1bn a year in China, spending huge sums to subsidise discounted rides.
Mr Cook said he saw many opportunities for Apple and Didi Chuxing to collaborate in the future.
He also stressed the deal was a chance to learn more about China as Apple's second-biggest market.
Apple's ambitions in China has recently hit roadblocks with Chinese regulators shutting down the company's online book and movie services to implement strict rules governing what can be published online.
The move was widely seen as a blow to Apple, which is keen to ensure its products are popular and sell well in China, because it is the second-biggest market for its products.
Apple reported in April that its revenues fell for the first time since 2003 with China marked out as a particular weak spot.
Didi Chuxing, beforehand known as Didi Kuaidi, said it spoke to the single biggest interest in its history.
The firm said it gave more than 11 million rides a day and guaranteed to have 87% of the Chinese piece of the pie.
The organization is likewise supported by Chinese web goliaths Tencent and Alibaba.
US rival Uber has been attempting to break into the Chinese business sector notwithstanding having won Chinese web crawler Baidu as a financial specialist.
In February Uber let it out was losing more than $1bn a year in China, spending gigantic wholes to sponsor reduced rides.
Mr Cook said he saw numerous open doors for Apple and Didi Chuxing to team up later on.
He additionally focused on the arrangement was an opportunity to take in more about China as Apple's second-greatest business sector.
Apple's desire in China has as of late hit barriers with Chinese controllers closing down the organization's online book and motion picture administrations to execute strict principles administering what can be distributed on the web.
The move was broadly seen as a hit to Apple, which is quick to guarantee its items are prominent and offer well in China, since it is the second-greatest business sector for its items.
Apple reported in April that its incomes fell surprisingly since 2003 with China set apart out as a specific frail spot.
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