The long awaited Apple and China Mobile deal has finally materialized and “the signed deal” will give Apple an insurmountable access to 700 million subscribers, which is seven times the size of Verizon’s base.
According to WallStreet Journal, China Mobile plans to unveil on December 18th “a brand” for its fourth-generation, or 4G, network. This long awaited deal that Apple has been hoping for will give the Cupertino company access to China Mobile’s big pool of subscribers and potential iPhone buyers. This very important agreement is huge for Apple as now, the Cupertino company can keep pace with the global handset leader Samsung Electronics Co. 005930.SE +0.91%
Greater China, including Hong Kong and Taiwan, is Apple’s third biggest market after the U.S. and Europe in terms of revenue.
“Mizuho Securities analyst, Marvin Lo, said China is a very attractive market to handset makers, and that China Mobile has the country’s wealthiest subscriber base. He estimated that at least 10% of China Mobile’s subscribers would be potential iPhone customers…”
Apple seems to have all “the gears working” with all positive news recently, and now with the China Mobile “signed agreement,” Apple investors may finally be rewarded after seeing Apple’s stock drop from $700+ to $380+ earlier this year.