Newsclip®: [Business] Why Apple plunked $1 billion into Chinese ride-hailing -

"A few days later, the company reported that sales in mainland China — primarily of iPhones — fell 11 percent in the first quarter, a big contributor to its first quarterly revenue decline in 13 years. With the global market for smartphones cooling, Apple has increasingly emphasized the money it makes from services such as music streaming and media downloads. Apple will become a strategic investor alongside Chinese e-commerce giant Alibaba Group and Tencent Holdings Ltd., an online games and entertainment service, Didi Chuxing announced Friday. China's ride-hailing industry has grown rapidly, with competitors spending heavily to subsidize rides to capture market share.",

0 comments | 1 clip



Last clipped by

Hey! Thanks for checking out Newsclip®!

Click on this Trending Newsclip® Stack to read other top media reports on this topic.

Be sure to clip to your personal newspaper, like, comment and share!

Newsclip® is the leader of Social News Discovery®.

Welcome to the Newsclip® beta release!

Please enjoy the site during our beta phase and provide us with feedback on suggestions and issue details. Please remember that we are still in beta and there will be issues and site changes during this time.

Newsclip® the leading Online Social Newspaper, find trending articles through Social News Discovery®!

Invite Friends to Newsclip®

Invite your Facebook friends to follow you!

You can reopen the "Getting Started Tutorial" dialog from within the About menu in the top right corner.