“Apple shares jumped on a report that the iPhone has cracked the European market,” Scott Moritz reports for TheStreet.com.
“Confirming speculation last month, FT Deutschland, the German counterpart of the Financial Times, reported Wednesday that Apple has signed exclusive supply contracts with Telefonica’s U.K. unit O2, Deutsche Telekom’s T-Mobile in Germany and France Telecom’s Orange,” Moritz reports.
“Apple will get 10% of the monthly proceeds from calls and mobile data charges accrued by users in a revenue sharing deal, according to the report,” Moritz reports.
“Industry observers expect that more iPhone agreements will be struck next year in Europe and Asia,” Moritz reports.
Apple (AAPL) is currently trading at $131.32, up $3.75, or 2.94%.
Full article here.