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Apple to Sell Products Through T-Mobile (Update 1)

Story updated with T-Mobile statement and closing prices

NEW YORK ( TheStreet) -- T-Mobile USA has clinched a deal to offer Apple (AAPL - Get Report) products on its U.S. network.

The Deutsche Telekom subsidiary looked on enviously in recent years as U.S. telecom heavyweights AT&T (T - Get Report), Verizon (VZ - Get Report) and Sprint (S) started selling the tech giant's popular wares, such as the iPhone and iPad.

T-Mobile is America's fourth-largest cellular carrier.

"T-Mobile USA has entered into an agreement with Apple to bring products to market together in 2013," explained Deutsche Telekom, in a statement released on Thursday.

Specific details of the partnership have not yet been revealed, although John Legere, the chief executive of T-Mobile USA, has confirmed that the network will carry the iPhone, according to The L.A. Times.

T-Mobile's U.S. operation is involved in the wave of consolidation sweeping the U.S. telecom sector and is set to merge with MetroPCS (PCS). The T-Mobile USA/MetroPCS deal is expected to closed in the second quarter of 2013.

Shares of Apple closed up 1.35% at $546.09 on Thursday. MetroPCS shares gained 2.67% to close at $10.37.

-- Written by James Rogers in New York.

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SYM TRADE IT LAST %CHG
PCS $11.84 0.00%
AAPL $129.62 0.00%
S $4.73 0.00%
T $34.67 0.00%
VZ $49.42 0.00%

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