There is a good news for China people who loves Apple Inc.(NASDAQ:AAPL) iPhone as Chinese regulatory authorities on Tuesday issued green signal to the company’s latest iPhone 5, which would allow the company to start selling its phone in the country.
Chinese regulatory authorities stated that the company’s phonies compatible with the country's GSM and CDMA networks. However, the exact date for the launch is unknown, but markets are expecting it be launched by the end of this year as stated by CEO Tim Cook during the recent conference call with analysts.
The company won approval after 5 weeks of launch in U.S. It is worth mentioning that Hong Kong was one of the initial regions to get the iPhone 5 and has been a popular seller for China Unicom there, but the rest of China couldn’t buy it and are only allowed to buy iPhone 4S as the most recent model.
China is the key market for any mobile company as the country represents the largest cell phone market in the world, and China Mobile is the world's largest carrier by subscriber number, with nearly 700 million customers. An estimated 20 million or more subscribers are already using the iPhone on China Mobile's network according to unofficial estimates, even though they are restricted to 2G speeds for data on the devices, since earlier versions of the iPhone don't support the company's TD-LTE network.
Wide availability of the iPhone 5 in China combined with the west's holiday buying season could make Apple's fiscal first quarter a boon time for iPhone sales, particularly if all three of China's major carriers can get the iPhone 5 in stores soon. Analysts have said that a deal with China Mobile could, all by itself, double current iPhone sales in the country.