February 9, 2014
Apple CEO Signals Company Plans to Broaden Alliance with China Mobile - WSJ.com
BEIJING— Apple Inc.'s deal to offer iPhones through China Mobile Ltd. represents a major coup for its chief executive Tim Cook, who signaled Wednesday the company plans to broaden its alliance with the Chinese carrier to grow in the world's largest smartphone market.
The deal, which took six years of negotiations, is the last piece of the puzzle for Apple in China, officially making iPhones available through all three of the country's state-run telecom carriers. With preorders for the iPhone through China Mobile already exceeding one million, the agreement will likely boost Apple's sales in the coming year at a time when its earnings growth is slowing and its global smartphone market share is slipping.
For Apple, the stakes are high in China: the country is the world's largest smartphone market by shipments and the deal with China Mobile, the biggest carrier, gives it access to an additional 700 million subscribers as well as new sale points. Apple is also currently behind market leader Samsung Electronics Co. in terms of market share in China, ranking fifth in the third quarter, according to research firm Canalys.
Read more...Apple CEO Signals Company Plans to Broaden Alliance with China Mobile - WSJ.com
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