real-time news and commentary for investors
Wednesday, Sep 11
Apple gets license to run phones on China Mobile's network
- A long-awaited deal between Apple (AAPL) and China Mobile (CHL) appears to have moved closer after the U.S. company received a license for its phones to operate on China Mobile's 3G and 4G networks from the country's Telecom Equipment Certification Center.
- Apple's products also obtained licenses to run on the infrastructure of China Unicom (CHU) and China Telecom (CHA), both of which will sell the two iPhones that were unveiled yesterday.
- While a deal with China Mobile will open up a market of 700M subscribers, the "low-end" iPhone 5C looks rather pricey for the cost-conscious consumers that Apple was expected to target with the handset. The device will retail at 4,488 yuan ($730), just 800 yuan ($130) less than the top-of-the-line 5S.