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| Apple invests in Chinese Uber rival Didi Chuxing | Apple invests in Chinese Uber rival Didi Chuxing |
| (4 days later) | |
| Apple has invested $1bn (£693m) in Didi Chuxing, the car-hailing app that has a greater market share than US rival Uber in China. | Apple has invested $1bn (£693m) in Didi Chuxing, the car-hailing app that has a greater market share than US rival Uber in China. |
| Tim Cook, chief executive, said that the move would help Apple to better understand the Chinese market. | Tim Cook, chief executive, said that the move would help Apple to better understand the Chinese market. |
| Didi Chuxing, previously known as Didi Kuaidi, said it represented the single largest investment in its history. | Didi Chuxing, previously known as Didi Kuaidi, said it represented the single largest investment in its history. |
| The firm said it provided more than 11 million rides a day and claimed to have 87% of the Chinese market share. | The firm said it provided more than 11 million rides a day and claimed to have 87% of the Chinese market share. |
| The company is also backed by Chinese internet giants Tencent and Alibaba. | The company is also backed by Chinese internet giants Tencent and Alibaba. |
| US rival Uber has been struggling to break into the Chinese market despite having won Chinese search engine Baidu as an investor. | US rival Uber has been struggling to break into the Chinese market despite having won Chinese search engine Baidu as an investor. |
| In February Uber admitted it was losing more than $1bn a year in China, spending huge sums to subsidise discounted rides. | In February Uber admitted it was losing more than $1bn a year in China, spending huge sums to subsidise discounted rides. |
| China correspondent, Stephen McDonell: | China correspondent, Stephen McDonell: |
| Before Didi Chuxing's app, pretty much the only option to catch a cab in China was to hail one in the street. In most cities, there were no widely-used phone booking services like those in other countries. People might have a few phone numbers of taxi drivers they knew to call and see if they were driving in the area but that was it. | |
| Then - as with other technologies - China leapfrogged into the future. | Then - as with other technologies - China leapfrogged into the future. |
| Suddenly everyone had the "Didi" app: it could line up a driver, see how many taxis were in the area, put you in contact with a driver, even offer a tip to get a vehicle there more quickly. Now in cities like Beijing and Shanghai on a Friday night you're struggling to hail a cab in the street because they're all taking Didi bookings. | Suddenly everyone had the "Didi" app: it could line up a driver, see how many taxis were in the area, put you in contact with a driver, even offer a tip to get a vehicle there more quickly. Now in cities like Beijing and Shanghai on a Friday night you're struggling to hail a cab in the street because they're all taking Didi bookings. |
| US rival Uber is also making a big, costly, push into China and is popular with more affluent customers. | US rival Uber is also making a big, costly, push into China and is popular with more affluent customers. |
| Didi has responded with its own premium car service. It's already merged with one rival Chinese company and a huge investment from Apple could see it expand and stave off the challenge being thrown down by other apps. | Didi has responded with its own premium car service. It's already merged with one rival Chinese company and a huge investment from Apple could see it expand and stave off the challenge being thrown down by other apps. |
| Mr Cook said he saw many opportunities for Apple and Didi Chuxing to collaborate in the future. | Mr Cook said he saw many opportunities for Apple and Didi Chuxing to collaborate in the future. |
| He also stressed the deal was a chance to learn more about China as Apple's second-biggest market. | He also stressed the deal was a chance to learn more about China as Apple's second-biggest market. |
| Apple's ambitions in China has recently hit roadblocks with Chinese regulators shutting down the company's online book and movie services to implement strict rules governing what can be published online. | Apple's ambitions in China has recently hit roadblocks with Chinese regulators shutting down the company's online book and movie services to implement strict rules governing what can be published online. |
| The move was widely seen as a blow to Apple, which is keen to ensure its products are popular and sell well in China, because it is the second-biggest market for its products. | The move was widely seen as a blow to Apple, which is keen to ensure its products are popular and sell well in China, because it is the second-biggest market for its products. |
| Apple reported in April that its revenues fell for the first time since 2003 with China marked out as a particular weak spot. | Apple reported in April that its revenues fell for the first time since 2003 with China marked out as a particular weak spot. |