Apple invests $1bn in Chinese taxi giant Didi Chuxing
Apple is to take a bite out of Chinese taxi firm Didi Chuxing, having invested $1bn in the car-hailing app.
With a bigger market share than Uber, the taxi service provides over 11 million rides each day, and is believed to be the biggest in the country with an 87 per cent monopoly on the space.
Uber has struggled to crack China, even in light of winning investment from Chinese search behemoth Baidu.
Apple chief executive Tim Cook told Reuters that the investment was made in the hope of helping the firm better understand Chinese consumers.
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Source: The Drum
