Apple Strikes Gold, Signs Multi-Year Deal with China Mobile
After years of rumors and speculation, Apple finally inks a deal with the world's largest mobile network, China Mobile to sell its iPhones.
In a press release, Apple states that both companies signed "a multi-year agreement" and the iPhones can be purchased from China Mobile's retail stores as well as Apple retail stores across China beginning on Friday, January 17, 2014.
Apple - "Apple has enormous respect for China Mobile and we are excited to begin working together. China is an extremely important market for Apple and our partnership with China Mobile presents us the opportunity to bring iPhone to the customers of the world's largest network,” said Tim Cook, Apple CEO. “iPhone customers in China are an enthusiastic and rapidly growing group, and we can’t think of a better way to welcome in the Chinese New Year than getting an iPhone into the hands of every China Mobile customer who wants one.”
The multi-year agreement is a major achievement for Apple as it now has access to China Mobile's 700 million subscribers. To put that into perspective, China Mobile has more than twice the number of users as the U.S has people. This is a huge market that Apple had been trying to tap for years, and with this deal, it is expected to fuel more sales and growth for the iPhone maker.