“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.
SEE ALSO:
Why Apple is really investing $1 billion in Didi, China’s version of Uber – May 13, 2016
Uber CEO responds to Apple’s $1 billion investment in Didi Chuxing – May 13, 2016
Things to know about China’s Didi, Apple’s latest $1 billion investment – May 13, 2016
Apple invests $1 billion in Chinese ride-hailing service Didi Chuxing – May 12, 2016
Apple’s battle with China offers a stark reminder of geopolitical risks – May 11, 2016
Apple’s Tim Cook to visit China for high-level government meetings later this month – May 6, 2016
Apple CEO Cook ‘pretty confident’ of soon resuming movie and book sales in China – May 3, 2016
The New Yorker: What Apple has to fear from China – April 30, 2016
China’s increasing censorship hits Apple, but Apple might punch back – April 22, 2016
China shutters Apple’s online book and movie services – April 22, 2016