No Deal Between China Mobile and Apple

We are still waiting for the deal between Apple and China Mobile to materialize. Many had hoped for a deal to be reached by Wednesday, but that has yet to happen.

Xi Guohua, the chairman of China Mobile, said that his company had no official announcement regarding the deal with Apple. This has led many to think that the talks between the 2 firms have stalled out. This was after The Wall Street Journal reported that the 2 companies were expected to come to terms around the middle of this week.

Expanding further into China is a high priority for Apple, which has made deals with carriers around the globe to expand its business horizon. China is the second largest market for Apple - behind the United States - and yet it lacks an agreement with one of the country's top carriers, China Mobile. Speculations about the benefits of a deal between the two have been ongoing for years now, but apparently neither side is willing to compromise enough to obtain a deal.

Reuters says, "The most likely stumbling blocks are the exact terms of contracts, including flat and monthly fees, as well as the incorporation of various pricing schemes. Neither side is denying that a deal would bring additional value to the table for both parties."

(AAPL)

In other news regarding Apple, AAPL is down 2.18% on the NasdaqGS. The previous close for Apple stock was 554.99, and today's range is between 541.31 - 550.90.