Sept. 4 - Reports of a press invitation spark speculation of a deal between Apple and China Mobile, the world's largest mobile phone company. Fred Katayama reports.
Apple will hold a press event in China just hours after a big media event in the U.S. on Tuesday. These reports by Chinese media have stirred speculation that Apple just might announce a long-awaited deal with the world's largest mobile phone company that has yet to carry Apple, China Mobile. Just last month, Apple CEO Tim Cook had met with China Mobile's chairman over the possibility of selling an iPhone. Apple could use a boost in the world's largest cell phone market. Research firm Canalys says Apple slipped to seventh last quarter in smartphone sales in China. Some analysts say a China deal is possible but that it's more likely Apple will use the event to launch a new product. Apple traded higher on the news, adding to its 23 percent rally since June. News of the China event comes a day after Apple officially invited the media to its headquarters, where it's expected to unveil two iPhones: its latest high-end phone, and a cheaper one in an array of colors that may have been hinted at by the invitation, which features bubbles in a pallet of colors. That low-cost phone, if true, could be aimed at emerging markets like China.