Apple invests $1B in ride-hailing service to better understand Chinese market

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Such an investment from Apple’s side was expected to happen, especially concerning that the iPhone business that helped the company reach high profit margins is currently showing some signs of maturity. Although the company’ sales in China have felt because of the slowing economic growth there, Tim Cook stressed publicly that he remains confident in the market. Nevertheless, Apple could thus reinvigorate sales in China and get back again in good terms with its regulators.

Words from both sides showed the commitment both companies put in this investment:
“That is what we do today in the car business, so we will have to see what the future holds.. This is as much about sending signals about (the) seriousness in that country as it is about helping Didi build a ride-sharing platform.. (it) reflects our excitement about their growing business … and also our continued confidence in the long term in China’s economy”. Now investors are eagerly waiting and checking to see whether Apple will enter the automotive business. While Apple only remained focused in their recent discussions on the in-car experience with its CarPlay system, it has hired many automotive experts as the company is rumored to already be building a self-driving car.

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