Shares of AAPL are soaring today in response to news that Apple and China Mobile have entered into a multi-year agreement to bring iPhone to the world’s largest mobile network.
“Apple’s iPhone is very much loved by millions of customers around the world,” says Xi Guohua, China Mobile Chairman. “We know there are many China Mobile customers and potential new customers who are anxiously awaiting the incredible combination of iPhone on China Mobile’s leading network. We are delighted that iPhone on China Mobile will support our 4G/TD-LTE and 3G/TD-SCDMA networks, providing customers with high-speed mobile service.”
Apple’s iPhone 5s and iPhone 5c will be available through China Mobile’s network of retail stores as well as Apple retail stores across mainland China starting on Friday, January 17, 2014.
Preorders will commence this Wednesday, December 25th.
“Apple has enormous respect for China Mobile and we are excited to begin working together,” says Apple CEO Tim Cook in an Apple press release. “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. 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.”