Apple invests $1B in China’s Didi Chuxing

first_img Apps Related UK consumers seek £1.5B from Apple Author AddThis Sharing ButtonsShare to LinkedInLinkedInLinkedInShare to TwitterTwitterTwitterShare to FacebookFacebookFacebookShare to MoreAddThisMore 13 MAY 2016 AppleDidi Chuxing Previous ArticleCES Asia in photos: Virtual flight to robot armiesNext ArticleBidders eye Telefonica O2 following failed Hutch deal HomeAppsNews Apple invests $1B in China’s Didi Chuxingcenter_img Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters – creating content, writing blogs and reports as well as conducting feature interviews…More Read more Apple faces the music in Europe Apple invested $1 billion in Chinese ride-hailing app Didi Chuxing, formerly known as Didi Kuaidi, the single largest investment the company has ever received.Apple will join companies like Tencent and Alibaba to “help further Didi’s mission of building a data-driven rideshare platform to serve hundreds of millions of Chinese drivers and passengers,” Didi said in a statement.According to Financial Times (FT), Didi was valued at $20 billion in recent funding rounds, up from $15 billion last July. The report added that the move by Apple is a “departure from its historic aversion” to invest in start-ups.Apple’s CEO Tim Cook said “Didi exemplifies the innovation taking place in the iOS developer community in China”, adding that “we are extremely impressed by the business they’ve built and their excellent leadership team, and we look forward to supporting them as they grow.”It is unclear what size Apple’s stake will be and experts believe there are several reasons Apple could be interested in Uber’s main rival in China.RationaleThe FT report quoted Phil Lisio, head of The Foote Group, as saying that “Apple’s got so much money, and no organic growth accelerators. So aggressive M&A with market leaders in China makes sense.”The firm may also want to integrate Apple Pay, launched in China in February, with Didi’s app.According to IHS Technology, despite Apple’s strong presence in the Chinese market, its latest investment highlights the need to work with local players to strengthen its position in the country.It is worth noting that Cook is set to meet with high-level Chinese officials in Beijing as the company faces a number of obstacles in the mainland as well as slowing growth globally.IHS also said taxi apps can be a way into developing a wider automotive strategy and this investment is further evidence of Apple’s interest in transportation and the automotive market, “beyond its current Apple Maps software.”“Apple’s recent acquisition targets include companies involved in augmented reality, artificial intelligence, GPS and navigation, camera technology and education, all of which give insight into its future strategies and priorities,” IHS’ Jack Kent, mobile director, observed.Cheng Wei, founder and CEO of Didi, said the investment from Apple is “an enormous encouragement and inspiration,” adding that the firm wants to make flexible and reliable mobility choices available to every citizen and help solve transportation, environmental and employment challenges.Didi claims it completes over 11 million rides a day, serving close to 300 million users in more than 400 Chinese cities. It also said it controls 87 per cent market share in private car-hailing and over 99 per cent market share in taxi-hailing.Back in December, four ride-hailing services — Didi Chuxing, US-based Lyft, India’s Ola and Southeast Asia’s GrabTaxi – agreed to partner to scale up their services to compete against rival Uber.Not long after, a group of Chinese investors put nearly $2 billion into Uber, as it faced increased competition. Australia watchdog moves to open up app market Saleha Riaz Tags last_img read more

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Samsung to launch Galaxy Note 5 in India on September 7

first_imgAlmost three weeks after launching its flagship Galaxy S6 Edge+ in India, South Korean tech major Samsung looks set to launch its ‘other’ major flagship Galaxy Note 5 phablet in the country on September 7. Samsung is holding a media event in the national capital on the said date to launch its ‘most powerful and dynamic Galaxy yet’, aka the Note 5.Also Read: Samsung launches Galaxy S6 Edge+ in India for Rs.57,900 The Galaxy Note 5 was announced by Samsung along with the Galaxy S6 Edge+ in August. The Galaxy S6 Edge+ is now available in India for Rs.57,900 (32GB). Samsung at the time of launching the Edge+ had said that it will be holding a separate launch event soon to announce the availability of the Galaxy Note 5 in India.The Galaxy Note 5 is the successor to the Note 4 and comes with a 5.7-inch QuadHD Super AMOLED display with a 1440×2560 pixels resolution and 518 ppi pixel density. The screen is protected by Corning Gorilla Glass 4.The Note 5 is powered by a 2.1 GHz octa-core Exynos 7420 processor coupled with Mali-T760 GPU and 4GB RAM. The Note 5 is available in 32GB and 64GB memory variants. However, Samsung brought just the 32GB variant of the Galaxy S6 Edge+ to India, so it’s yet to be seen if India would be getting both the variants of the Note 5 or not. The Note 5 does not support expandable storage.Also Read: Note 5, S6 Edge+: Top features of Samsung’s bigger and sexier phablets The phablet runs Android 5.1.1 Lollipop-based TouchWiz UI on top and comes with a fingerprint scanner on the front.advertisementIt sports a 16-megapixel rear camera with optical image stabilization and LED flash along with a 5-megapixel front camera.The Note 5 is backed by a non-removable 3,000 mAh battery and supports fast charging and wireless charging.The Note 5 comes with Samsung’s trademark S Pen that now allows instant note-taking without needing to power up the phone.Also Read: Samsung Galaxy S6 Edge+ first impressionslast_img read more

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