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Apple signs iPhone deal with China Mobile Apple signs iPhone deal with China Mobile
(about 1 hour later)
US computer giant Apple has signed a deal to bring its iPhone to China Mobile - the world's largest carrier. US technology giant Apple has signed a deal to bring its iPhone to China Mobile - the world's largest carrier.
China Mobile, which has 760 million customers, will make the two latest iPhone models - the 5s and 5c - available from 17 January. The Chinese firm has more than 760 million subscribers and was one of three networks to be awarded China's first 4G licences earlier this month.
Last month China Mobile was one of three networks to be awarded China's first 4G licences. Apple has been looking to boost its sales in China, the world's largest smartphone market, but has struggled amid growing competition from rivals.
"China is an extremely important market for Apple," said chief executive Tim Cook in a statement. The latest deal is expected to help it increase its market share.
"China is an extremely important market for Apple," Tim Cook, Apple chief executive, said in a statement.
"Our partnership with China Mobile presents us the opportunity to bring iPhone to the customers of the world's largest network.""Our partnership with China Mobile presents us the opportunity to bring iPhone to the customers of the world's largest network."
China's bestselling three smartphone makers are Samsung, Lenovo and Coolpad, according to a recent report by the consultants IDC. Earlier this year, Mr Cook said he expected China to replace North America as Apple's largest source of revenue. The iPhone is the firm's most important product in terms of earnings power.
Until now, China Mobile subscribers have not been able to use Apple's iPhone, because the firm's 3G technology was not compatible with Apple handsets. However its 4G network will work with the iPhone 5s and 5c. Cheaper rivals
China is the world's biggest smartphone-using country, with 1.2 billion users.China is the world's biggest smartphone-using country, with 1.2 billion users.
But Chinese sales of previous iPhone models have slumped recently, as consumers have turned to cheaper rival handsets from Samsung, and domestic Chinese developers.
China's three bestselling smartphone makers are Samsung, Lenovo and Coolpad, according to a recent report by the consultants IDC.
Apple's sales have also in been impacted by the fact that unlike in developed markets, many phone carriers in emerging markets do not subsidise smartphones.
That means that subscribers have to pay the full amount for the phone upfront, making Apple's products relatively expensive for some buyers.
In an attempt to take on the low-cost rivals Apple unveiled a relatively cheaper version of the iPhone, the 5c, earlier this year.
Analysts said the firm was hoping that a cheaper handset combined with a deal with the biggest mobile carrier in the world may help it take on rivals.
However, Apple is yet to announce how much Chinese customers will have to pay for the iphone 5s and 5c models sold via China Mobile.
Nevertheless, analysts say the deal has huge potential. Cantor Fitzgerald Research estimates that Apple could sell 24 million iPhones next year to China Mobile customers alone.