Seeking Alpha
Profile| Send Message| ()  

Finally.

After months of speculation, China Unicom (CHU) has finally announced a deal to sell the Apple (AAPL) iPhone in China. The wireless carrier said it reached a three-year deal to sell the phone, starting in the fourth quarter. The company will sell both 2G and 3G versiosns of the iPhone; pricing was not announced. As the Wall Street Journal notes, China Unicom said it will subsidize the phone, but it gave no details. The China version of the iPhone will have WiFi disabled, to comply with local law.

According to Reuters, China Unicom said it bought the phones in a bulk purchase from Apple, and would not use Apple’s traditional revenue sharing model, but did not offer any details. There were recent unconfirmed reports that the company had purchased 5 million phones.

AAPL Friday morning is up $2.07, or 1.2%, to $171.52.

Original post

Source: At Long Last, An iPhone Deal with China Unicom