Apple just set an all-new record for the most App Store revenue brought in from one country in a quarter. Only instead of the United States taking the top spot, China is now Apple’s most profitable market for apps.
Although Didi Chuxing denied it at the time, regulatory filings show that Apple took the board position in late June, one month after it made its generous investment — designed to aid Apple’s continued push into China and interest in shaking up the automotive industry.
The second largest ride-hailing service in the U.S., Lyft, has reportedly been trying to find relief from its fierce competition by approaching Apple and other top tech companies regarding a possible acquisition.
Apple’s decision to invest $1 billion in “Chinese Uber” Didi Chuxing earlier this year is proving a smart move after the company bought out the real Uber in China — bringing an end to what was proving to be a costly and bitter battle over the Chinese lift-sharing market.