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Apple the challenge for the business in China
Apple the challenge for the business in China
That admiration seems to be working in both directions : Apple invested $1bn in Didi last week,its biggest minority investment ever.
The deal is not a huge outlay for a company that has net cash of $153bn but it is an unusual move given that Apple has previously shied away from using its cash to invest in start-ups.Unlike other big tech companies, such as Google and Intel, which have active venture arms, Applehas a longstanding tradition of incubating new ideas in-house.
The Didi investment also points to the growing list of challenges facing Apple in China, a country that has become increasingly important to its growth prospects. It could have wide ramifications for Apple’s efforts to move beyond the iPhone into services, say analysts .
For several years, China had been a key source of fresh demand for Apple as iPhone penetration rea-
ched saturation in more developed markets such as the US. But this reversed dramatically in the most
recent quarter, when sales in greater China dropped 26 per cent,contributing to Apple’s first drop in revenues in more than a decade .
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