Apple Invests $1 Billion in Chinese Ride-Sharing Company Didi Chuxing
Apple has invested $1 billion in Chinese ride-hailing company and Uber competitor Didi Chuxing, reports Reuters. The move is a strategic investment that will help the Cupertino company better understand the Chinese market, CEO Tim Cook told Reuters.
"We are making the investment for a number of strategic reasons, including a chance to learn more about certain segments of the China market," he said. "Of course, we believe it will deliver a strong return for our invested capital over time as well."
Didi Chuxing, which has raised several billion dollars in funding, says the investment from Apple is the largest it's ever received. Didi Chuxing dominates the ride-sharing market in China, completing more than 11 million rides a day and owning 87 percent of the market in the country.
Although Apple has hired many employees in recent months with automotive backgrounds, likely for its secretive Apple Car project codenamed Project Titan, Cook insists Apple is currently focused on the in-car experience. However, he did not deny what the future may have in store for a potential Apple Car. "That is what we do today in the car business," he told Reuters. "So we will have to see what the future holds."
Cook also used the deal to underline Apple's confidence in the market, saying that it reflects the company's "continued confidence in the long term in China's economy." Apple's sales fell 26 percent in Greater China in the second quarter of 2016, causing Carl Icahn to sell his full stake in the company. Apple was also recently forced to take down its iTunes Movies and iBooks stores in the country. Cook will visit China and meet with government officials this month.
Popular Stories
Apple today seeded the release candidate versions of upcoming iOS 26.2 and iPadOS 26.2 updates to developers and public beta testers, with the software coming two weeks after Apple seeded the third betas. The release candidates represent the final versions of iOS 26.2 and iPadOS 26.2 that will be provided to the public if no further bugs are found during this final week of testing....
Apple is encouraging iPhone users who are still running iOS 18 to upgrade to iOS 26 by making the iOS 26 software upgrade option more prominent.
Since iOS 26 launched in September, it has been displayed as an optional upgrade at the bottom of the Software Update interface in the Settings app. iOS 18 has been the default operating system option, and users running iOS 18 have seen iOS 18...
In a statement shared with Bloomberg on Wednesday, Apple confirmed that its software design chief Alan Dye will be leaving. Apple said Dye will be succeeded by Stephen Lemay, who has been a software designer at the company since 1999.
Meta CEO Mark Zuckerberg announced that Dye will lead a new creative studio within the company's AR/VR division Reality Labs.
On his blog Daring Fireball,...
We're getting closer to the launch of the final major iOS update of the year, with Apple set to release iOS 26.2 in December. We've had three betas so far and are expecting a fourth beta or a release candidate this week, so a launch could follow as soon as next week.
Past Launch Dates
Apple's past iOS x.2 updates from the last few years have all happened right around the middle of the...
Apple is about to release iOS 26.2, the second major point update for iPhones since iOS 26 was rolled out in September, and there are at least 15 notable changes and improvements worth checking out. We've rounded them up below.
Apple is expected to roll out iOS 26.2 to compatible devices sometime between December 8 and December 16. When the update drops, you can check Apple's servers for the ...
Apple is expected to launch a new foldable iPhone next year, based on multiple rumors and credible sources. The long-awaited device has been rumored for years now, but signs increasingly suggest that 2026 could indeed be the year that Apple releases its first foldable device.
Subscribe to the MacRumors YouTube channel for more videos.
Below, we've collated an updated set of key details that ...
The iPhone Air has recorded the steepest early resale value drop of any iPhone model in years, with new data showing that several configurations have lost almost 50% of their value within ten weeks of launch.
According to a ten-week analysis published by SellCell, Apple's latest lineup is showing a pronounced split in resale performance between the iPhone 17 models and the iPhone Air....
iPhone 17 Pro models, it turns out, can't take photos in Night mode when Portrait mode is selected in the Camera app – a capability that's been available on Apple's Pro devices since the iPhone 12 Pro in 2020.
If you're an iPhone 17 Pro or iPhone 17 Pro Max owner, try it for yourself: Open the Camera app with Photo selected in the carousel, then cover the rear lenses with your hand to...
A U.S. appeals court has upheld a temporary restraining order that prevents OpenAI and Jony Ive's new hardware venture from using the name "io" for products similar to those planned by AI audio startup iyO, Bloomberg Law reports.
iyO sued OpenAI earlier this year after the latter announced its partnership with Ive's new firm, arguing that OpenAI's planned "io" branding was too close to its...
Apple's iPhone 17 lineup is selling well enough that Apple is on track to ship more than 247.4 million total iPhones in 2025, according to a new report from IDC.
Total 2025 shipments are forecast to grow 6.1 percent year over year due to iPhone 17 demand and increased sales in China, a major market for Apple.
Overall worldwide smartphone shipments across Android and iOS are forecast to...
