Shares of Apple [AAPL] were up 0.61% yesterday on the news that the company has finally reached an agreement with China Mobile [CHL].
According to Motley Fool analyst Jason Moser, Apple has been pushing for this deal for a while, since it will provide the company with a subscriber base of nearly 760 million new customers.
However, Jason notes that those new customers have considerably less spending power than Apple’s customers in the United States, which means that Chinese buyers will be more sensitive to phone prices, and may not respond well to the constant replacement cycle that Apple pushes.
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