Apple Drops as China Mobile CEO Says IPhone Faces Hurdles
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Apple Inc. shares extended their decline after China Mobile Ltd. Chief Executive Officer Li Yue said he wouldn’t add the iPhone to the world’s largest wireless network without a deal that's favorable for his company.
“The business model and benefit sharing still need further discussion,” Li said at a conference in Guangzhou yesterday. Technical issues related to the carrier’s homegrown third-generation network standard would also need to be resolved, Li said.