Apple board has stepped down from Didi the Chinese ride-hailing company


As the Chinese ride-hailing business struggles to resume expansion following crippling fines and restrictions imposed by Beijing’s cyberspace regulator, Apple has resigned from its board membership at Didi Global, according to Mark Gurman of Bloomberg.

According to a notification published on Didi’s website, Adrian Perica, Apple’s vice president of corporate development, left the board earlier this month.

Perica, who is in charge of Apple’s acquisition strategy, joined Didi’s board in 2016 after the company invested one billion dollars in the ride-hailing app. CEO Tim Cook, at the time, referred to the action as a “strategic investment” that would aid Apple in better comprehending the Chinese market.

After Beijing voiced worries about the Uber competitor’s potential exploitation of personal data, Apple was warned by China’s internet watchdog that it must remove the Didi Chuxing ride-hailing app from the Chinese App Store. This is when Didi’s issues began.

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The company was severely hampered by Didi’s removal from China’s mobile app stores, which also resulted in the loss of more than eighty percent of its market value. The Chinese government then penalized Didi with one point two billion dollars last month for violations it claimed jeopardized national security after a year-long probe.

The choice was made in response to broader steps taken by Beijing to restrain the power of China’s biggest internet companies and tighten control over the ownership of the personal information of hundreds of millions of users that companies like Alibaba, Tencent, and others have.

As a result of a weak economy and increased government scrutiny, Apple’s investments and acquisitions have significantly decreased during the past two years. Instead, the tech titan has become much more picky.

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