Apple invests $1 billion in Didi Chuxing

Apple Inc has pumped $1 billion into ride-hailing service Didi Chuxing, the main competitor in China of Uber Technology, in an unusual move that Apple CEO Tim Cook said will help it "learn more about certain segments of the China market".

The investment, announced on Friday, is the largest single investment that Didi has received. It also is a rare one for Apple, since the US tech giant tends to buy out companies rather than inject capital into them.

Apple declined to elaborate on the intentions of the deal, but Cook told Reuters that he saw opportunities for Apple and Didi to collaborate in the future.