Apple (AAPL) gets close to a deal to sell iPhones in China

Published: June 27, 2008, 12:27 am

Tags: aapl, apple, chl, inthenews, iphone

Filed under: Products and services, Launches, Apple Inc (AAPL), China, China Mobile Limited (CHL)China is the world's largest cellular phone market. Without it, Apple's (NASDAQ:AAPL) quest to grow iPhone sales quickly would be hindered. Apparently, however, Apple is now getting close to a deal. According to Reuters, "Apple is no longer insisting on a revenue-sharing policy, so the biggest hurdle for China Mobile to bring in the iPhone has been cleared, but there are practical issues still to be resolved," said China Mobile (NYSE:CHL) spokeswoman Rainie Lei. Apple will not get a piece of the subscription fees attached to the phone, but it will move into a position to sell millions of iPhones on the mainland. The news is likely to push Apple's stock up. China sales could eventually equal all of Europe's sales combined and may, at some point, rival sales in the US. Apple's biggest problem in China may be the price of the phone. The upper and middle classes there may well pay for an

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