China Mobile, IPhone Deal Broken

HONG KONG -China Mobile has reportedly walked away from talks with Apple regarding the launch of the iPhone in China, creating doubt about whether the popular U.S. mobile communications gadget will manage to make its market debut in the country according to schedule.
"Our parent company has terminated talks with Apple over the iPhone," a spokeswoman for China Mobile stated, confirming a Chinese Internet report without further elaboration.
The two companies failed to enter into any agreement because Apple wanted a revenue share of 20% to 30%, more than China Mobile would offer, the Sina.com Web portal reported Monday, citing Gao Nianshu, a general manager of China Mobile.
News that the telecoms giant was in talks over the potential launch of iPhone in China was first leaked by China Mobile Chief Executive Officer Wang Jianzhou at a telecoms conference in Macau on Nov. 13, last year. The informal announcement helped Apple’s stock climb more than 10% in a single day.
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