Apple Inc said it has signed a long-awaited agreement with China Mobile Ltd to sell iPhones through the world’s biggest network of mobile phone users.
In a deal that could add billions of dollars to its revenue, Apple said its smartphones will be available to China Mobile customers starting January 17. Pricing and availability details for the iPhone 5S and 5C lines will be disclosed at a later date, it said in a statement.
The tie-up provides a much-needed boost for Apple in a country where it’s trailing rivals, even though China is its second-largest market after the U.S. It will also give Apple extra firepower in its intensifying global competition with South Korea’s Samsung Electronics Co Ltd.
Apple didn’t disclose financial terms of the agreement. Tim Cook, Apple’s chief executive, said in its statement that China is an extremely important market for the Cupertino-based company.
In a country where smartphone sales are booming, Apple has trailed its competitors. Shipments of iPhones in the country grew 32 percent year-on-year for the third quarter, about half of China’s Lenovo Group Ltd, which had the next slowest growth at 64 percent year-on-year.
DailySun Reader Tips: Businesses using old antiquated technology are finding themselves on a losing battle with up and coming solutions. Take a look here at cc merchant and their new cloud based technology and see how they can grow your business.
