“Tim Cook has just made a very public investment in the future of China, betting $1 billion on the country’s version of Uber as he prepares for a trip to Beijing,” David Goldman and Charles Riley report for CNNMoney.
“The investment in Didi Chuxing is an unusual one for Apple, which typically swallows smaller companies whole,” Goldman and Riley report. “The deal could benefit Apple’s relationship with Beijing, and give Cook something positive to talk about during upcoming meetings with senior officials.”
“In April, less than seven months after Apple launched iBooks and iTunes Movies, the services were shut down in China. They disappeared as Beijing implemented new rules for foreign companies that provide online content such as videos, games and books,” Goldman and Riley report. “The trip is a chance for Cook to build and manage Apple’s relationship with key regulators, and perhaps bring iBooks and iTunes Movies back online.”
Read more in the full article here.
MacDailyNews Take: Yup.
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