Apple invests 1,000 million in the service of Chinese private transport Didi ChuXing, in an attempt to better understand its second largest market.
The American company tries to revitalize its business in China, its second largest market. Apple is in constant persecution by regulators Asian country with its online book store and films recently closed.
investment provides much of the Uber main rival in China. Tim Cook, Apple’s CEO, sees clear opportunities for cooperation with Didi ChuXing in the future, although the purpose in the short term is the understanding of a huge market, very important for the company and very complicated.
“We invest for several strategic reasons, including the opportunity to learn more about certain market segments in China,” says the manager. “Of course, we also believe that we will have a great return on our invested capital in the future.”
Didi ChuXing has already managed to raise several billion dollars and dominates by a wide margin, the transport market private in China. more than 11 million journeys a day and 87% market share
It is an interesting move. Apple has made many signings from the automotive industry and several sources say the company is developing an electric and autonomous car.
For now, Mr. Cook explained that Apple will focus on experience driving through your product carplay, a system that links the phone iPhone with the interface of the vehicle itself.
“This is what we do today in the automotive sector, we’ll see what the future holds, “said Tim Cook leaving the doors to the imagination of investors. In turn, as usual, emphasizes the significant growth opportunities that still exist in the Chinese market and its long-term vision.
Phoneia.com (May 12, 2016). Apple invests 1,000 million in Didi ChuXing, Chinese Uber. Recovered from https://phoneia.com/en/apple-invests-1000-million-in-didi-chuxing-chinese-uber/