Yahoo Finance Apple Strikes iPhone Deal With China Mobile
Apple (NasdaqGS: AAPL - news) has finally secured a deal to bring the iPhone to China Mobile (HKSE: 0941-OL.HK - news) , the world's biggest network, opening the door to a massive sales boost.
The state-owned network has more than 750 million subscribers.
The latest iPhone 5S and 5C will go on sale in the country from January 17, with analysts forecasting a sales surge of anywhere between 10 and 25 million over the next year.
China's granting of 4G licences earlier this month is thought to have helped the deal as the faster network is compatible with the iPhone.
In a statement promoting the deal, Apple and China Mobile said they were "excited" to finally be working together.
Apple CEO Tim Cook said: "Apple has enormous respect for China Mobile and we are excited to begin working together.
"China is an extremely important market for Apple and our partnership with China Mobile presents us the opportunity to bring iPhone to the customers of the world's largest network."
While popular around the world, the iPhone has faced tough competition in China from cheaper Android smartphones made by the likes of Samsung. Collectively, Android phones far outsell iPhone models.
Apple's cheaper 5C model, which was released earlier this year, was widely seen as an attempt to crack the Chinese market.
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