Scalper1 News
China, the world’s largest mobile phone market, might not get Apple’s (AAPL) iPhone 6 and 6 Plus until 2015. The state-owned 21st Century Business Herald reported Tuesday that Apple might have to wait until next year to get approval for its new iPhones in China after failing to reach agreement with the Ministry of Industry and Information Technology this month, according to Bloomberg Businessweek. Meanwhile, the country’s largest wireless carrier, China Mobile (CHL), says it is focusing more on selling cheaper smartphones that don’t require subsidies. This comes after China Mobile said it will cut $2 billion from the subsidies it uses to help consumers pay for high-end smartphones from Apple and Samsung. Apple stock was down 1.5%, near 100, in midday trading on the stock market today. China Mobile’s U.S. shares were down 2%, near 62. The news out of China shouldn’t be a major concern… Scalper1 News
Scalper1 News