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Apple invests USD 1 bln in Chinese car service Didi

Friday 13 May 2016 | 08:48 CET | News
Apple has invested USD 1 billion the Chinese ride-sharing service Didi Chuxing. The investment comes as Apple faces slowing sales of the iPhone and attempts to put a greater focus on services to grow revenue. China is also its second-largest market. Didi operates a service similar to Uber and also counts as its investors Alibaba Group and Tencent. THe Apple investment is part of a larger round of USD 2 billion in financing, which was expected to value to company at USD 25 billion, Bloombegr reported. CEO Tim Cook told Reuters that he sees opportunities for Apple and Didi Chuxing to

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Categories: Mobile & Wireless
Companies: Apple
Countries: China
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