“After years of negotiations, Apple on Friday finally started selling iPhones through China Mobile, the world’s largest wireless carrier,” Patrick Seitz reports for Investor’s Business Daily. “The launch will test the consumer appetite for high-end smartphones in a market that has embraced lower-cost Google Android handsets from Samsung and others.”
“China Mobile was the last major piece to Apple’s iPhone distribution map,” Seitz reports. “One would be forgiven for thinking that Apple CEO Tim Cook wept like Alexander the Great upon realizing he had no more worlds to conquer.”
“China Mobile has 763 million subscribers, with 181 million using its 3G network. Apple’s iPhone will work on China Mobile’s 3G network and its new 4G network,” Seitz reports. “Cantor Fitzgerald analyst Brian White estimated that Apple will sell 20 million to 24 million iPhones through China Mobile in 2014. ‘In our view, the opportunity for Apple with China Mobile is significant and the relationship has only just begun, providing investors with a new, long-term growth vector to look forward to in the coming years,’ he said in a research note Friday. ‘Apple has courted China Mobile for years, and we believe this marriage will prove worth the wait.'”
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