The iPhone 5 became available in China on Dec. 14, to exceptionally strong reaction, with Apple announcing it sold 2 million iPhone 5s in its first weekend in the country.
In the press release, Cook again reiterated how important China is to Apple. "China is a very important market for us and customers there cannot wait to get their hands on Apple products," Cook was quoted as saying.
On the most recent earnings call, Cook noted fourth-quarter Chinese revenue was up 26% year over year to $5.7 billion. The iPhone 5 had officially not been granted network access yet. Striking a deal with China Mobile will be an important part of growing that pie.
Interested in more on Apple? See TheStreet Ratings' report card for this stock.-- Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull