It set up a separate company, Uber China, which had a buy-in from local investors, including from a local giant, Baidu. “For Uber, China was basically frosting on the cake.”For now, it’s especially delicious frosting. Of all American tech firms, Apple has achieved the biggest success in China — about 25 percent of its sales occurred in China, Hong Kong and Taiwan in 2015. But if spending big to tackle China ultimately works out for Uber, it will be an anomaly, and certainly not a model for other American tech giants. Uber’s retreat in China was preceded by a parade of failures by earlier American tech firms.

Source: New York Times August 02, 2016 00:45 UTC