Apple is looking to better understand the Chinese market by investing $1 billion in a ride sharing service called 'Didi Chuxing.' The goal is for Apple to increase sales in China by having a share in its most popular ride sharing service, with the company claiming that it "completes more that 11 million rides a day" and that it is currently valued at approximately $20 billion.
Apple's investment makes clear the bright future ahead for ride sharing services and shows how the company is using apps to make a profit within the automotive industry. Given the strict regulations China has on American technology, evident is their shut down of online movie and book services, Apple still understands the value in building a relationship with the country.
Chinese Ride Sharing Services
Apple is Investing in a Chinese Ride Sharing Service
Trend Themes
1. Chinese Ride Sharing Services - Apple's investment in 'Didi Chuxing' highlights the potential growth of ride sharing services in China and the need for global companies to understand and invest in this emerging market.
2. App-based Automotive Industry - Apple's investment in 'Didi Chuxing' demonstrates how global companies can use mobile apps to profit within the automotive industry and tap into new markets.
3. Global Investments in Emerging Markets - Apple's investment in 'Didi Chuxing' showcases the opportunities for global companies to build relationships and gain market share in emerging markets, despite strict regulations and potential challenges.
Industry Implications
1. Ride Sharing Services - Didi Chuxing's success and Apple's investment highlights the potential for expansion and growth of ride sharing services as a transportation alternative for consumers.
2. Automotive Industry - Apple's investment in 'Didi Chuxing' highlights the potential for growth and innovation in the automotive industry, especially with the rise of technology and app-based services.
3. Technology Industry - Apple's investment in 'Didi Chuxing' emphasizes the importance of global companies understanding different technology regulations and building partnerships to succeed in emerging markets.