Is an iCar showing up on our crystal balls?
It sure looks like it after it was announced on Thursday that Apple has invested $1 billion in China’s biggest ride-sharing company Didi Chuxing.
According to Apple CEO Tim Cook, the strategic move was made to help the company better understand the Chinese market, the second largest after the U.S.
“We are making the investment for a number of strategic reasons, including a chance to learn more about certain segments of the China market,” Cook told Reuters.
The investment comes at a crucial time for Apple seeing it has had a few upsets in the Chinese market in the past few months. On top of flagging sales, Apple was also blocked from selling iBooks and movies in the country. Read more…
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