Apple (AAPL) Inches One Step Closer to Launching iPhone 5 in China

November 29, 2012 7:57 AM EST
Apple (Nasdaq: AAPL) shares are ticking higher in pre-market action amid reports the iPhone 5 might make its way into China as expected.

According to the WSJ, citing a Chinese regulatory website, a device "resembling" an iPhone 5 was approved for a network access license in China. The device is compatible with China Telecom's (NYSE: CHA) mobile standard, the regulator notes.

Sales of the newest iPhone might be able to begin within a few weeks of approval, meaning Apple would be able to meet its goal of selling the device in China before the end of the year.

In addition to China Telecom, many expect Apple's iPhone 5 to be released via China Unicom (NYSE: CHU) around the same time. The ultimate goal, of course, is landing China Mobile (NYSE: CHL), which is the world's largest wireless carrier (though only a small portion of its customers pay for 3G access).

Apple is nearly 1 percent better in early trading.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Insiders' Blog, Trader Talk

Add Your Comment