After over a month of rumors, China Mobile's spokesperson confirmed on Monday that China Mobile and Apple were no longer negotiating for an iPhone contract, as reported by Wired Blog Network. It is suspected that Apple was demanding too large of a share of revenue and China Mobile, with over 300 million subscribers, was unwilling to concede to this arrangement. Wired suggests that Apple will now turn to China Unicom which has a lower market share and will probably be more willing to accede to Apple's steep demands.
The news didn't hurt Apple's stock. They finished the day up 3.53%.
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