Apple gets license to run phones on China Mobile's network

|About: Apple Inc. (AAPL)|By:, SA News Editor

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.