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Apple invests USD 1 bln in Chinese car service Didi

2016-05-13 08:48:00| Telecompaper Headlines

(Telecompaper) Apple has invested USD 1 billion the Chinese ride-sharing service Didi Chuxing. The investment comes as Apple faces slowing sales of the iPhone and attempts to put a greater focus on services to grow revenue. China is also its second-largest market. Didi operates a service similar to Uber and also counts as its investors Alibaba Group and Tencent. THe Apple investment is part of a larger round of USD 2 billion in financing, which was expected to value to company at USD 25 billion, Bloombegr reported. CEO Tim Cook told Reuters that he sees opportunities for Apple and Didi Chuxing to collaborate in the future. "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."

Tags: service car chinese usd

 

Apple invests in Chinese Uber rival

2016-05-13 07:46:38| BBC News | Business | UK Edition

Apple invests $1bn (693m) in Didi Chuxing, the car-hailing app that has a bigger market share than Uber in China.

Tags: chinese apple rival uber

 
 

Weekly Overview: Chinese Pork Price Spike Can Be Controlled

2016-05-10 02:00:00| ThePigSite - Industry News

ANALYSIS - Although pork prices are expected to remain high in China for the rest of the year, an official from the Ministry of Commerce has said that the rise in price is controllable.

Tags: price overview chinese weekly

 

Collision of Maltese cargo bulker with Chinese fishing vessel leaves two dead and 17 missing

2016-05-09 01:00:00| Ship Technology

A total of 17 people are declared missing and two people dead after a Chinese fishing boat collided with a Maltese cargo ship and sank in the East China Sea.

Tags: chinese dead missing leaves

 

Chinese sportswear giant 361° in PLM investment

2016-05-04 12:25:00| Daily apparel & textile news and comment - from just-style.com

Chinese sports brand 361° has invested in a new product lifecycle management (PLM) solution to streamline design, production and retail as it expands internationally and moves from wholesaler to retailer.

Tags: chinese investment giant sportswear

 

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