iPhone 5 hits China as Apple mkt share dips

Written by Reuters | Shanghai | Updated: Dec 15 2012, 08:09am hrs
The China release of its iPhone 5 on Friday should win Apple some respite from a recent slide in its share of what is likely already the worlds biggest smartphone market, but its longer-term hopes may depend on new technology being tested by Chinas top telecom carrier.

Apple has been in talks about a tie-up with China Mobile for four years. A deal with Chinas biggest carrier is seen as crucial to improve Apples distribution in a market of 290 million users which is forecast to double this year. China is Apples second-largest and fastest-growing market but the firms failure to strike a deal with China Mobile means it is missing out on a large number of phone users.