AT&T (T) CEO Trying To Extend Its Exclusive Contract With Apple's (AAPL) iPhone
AT&T's (NYSE: T) CEO, Randall Stephenson, is said to be negotiating with Apple (Nasdaq: AAPL) to extend its exclusive reseller contract that ends next year until 2011, according to the WSJ.
The Apple iPhone has brought back millions of customers to AT&T and helped bring back some of the luster to the AT&T brand.
Stephenson needs to keep the iPhone away from competitors to continue keep AT&T on the forefront of the next hit device as AT&T's U.S. landline phone business continues to suffer.
AT&T's push into wireless has also come at a significant cost to the company. AT&T has made $18.8 billion in acquisitions of radio spectrum and smaller cell companies, and it has spent approximately $1.3 billion to discount the iPhone.
In the second half of 2008, AT&T added 4.3 million Apple iPhone subscribers and about 40% of whom were new to AT&T.
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Apple Inc.designs, manufactures, and markets personal computers, portable digital music players, and mobile communication devices and sells a variety of related software, services, peripherals, and networking solutions.
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