Apple Inc. (NASDAQ:AAPL) Joins China Mobile Network; Deal is Expected to Boost iPhone Sales by 17%
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As per Wall Street Journal, a deal between Apple Inc. (NASDAQ:AAPL) and China Mobile (CHL) that has been on the cards for a long time now has finally happened. This deal will allow iPhone sales through China Mobile, the largest mobile carriers in the world. With an amazing subscriber pool of 760 million, China Mobile will help Apple increase its iPhone sales in the mobile market. The deal’s financial details are yet to be released.
Tim Cook, Apple’s CEO believes that China that is the biggest mobile market in the world will soon become Apple’s biggest market as well. A major chunk of Chinese market share is currently being enjoyed by Samsung and other local cell phone manufacturers as a result of which revenue of Apple Inc. (NASDAQ:AAPL) in this part of the world is not impressive enough and revenue has dipped down even in the US. However, Apple is optimistic that its China Mobile deal will change these facts for Apple for the better. Trefis, a research company believes that through this deal Apple may be able to sell 20 million more iPhone in the year 2014, which will be a jump by 17% as compared to a year before.
Currently cell phone carrier, China Unicom and China Telecom have iPhone sales right; however these are not as big as China Mobile in terms of number of subscribers that is why Apple Inc. (AAPL) spent quite a number of years pursuing this particular deal. The news was also reported last month by the official news agency of China stating that iPhone by Apple Inc. (AAPL) will officially launch its iPhone through China Mobile on the 18th of December.
After years of negotiation, Apple has finally secured the government license in August to be a part of China Mobile’s network. Apple also advertised for an engineer expert in TD-SCDMA back in October which gave credibility to Apple and China Mobile deal.
Tim Cook has already had two visits to China this year where he met Xi Guohua, Chairman of China Mobile.