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Apple announces US$1b investment in China's hail-riding app
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Apple on Friday announced an investment of US$1 billion in China's ride-hailing platform Didi Chuxing.
"We decided to make the investment for a number of strategic reasons, including the chance to learn more about certain segments of the China market; we see lots of opportunities for closer cooperation between the two companies; and we also believe it will deliver strong returns," Tim Cook, Apple's CEO, told Xinhua in a telephone interview.
Cook said the investment reflected Apple's excitement in Didi's fast-growing business and its continued confidence in China's long-run economy.
This is the single largest investment Didi has received, which makes Apple its strategic investor, Didi said in a statement.
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