Costco will no longer stock Apple products after a mutual agreement between the two companies was reached.
Speaking during its fiscal first quarter earnings call, Costco Chief Financial Officer Richard Galanti said that the company was in the process of phasing out Apple products like the iPhone, iPad and iPod.
According to the Seattle Times, Galanti said: “In the past couple months, we agreed to wind down.”
The main reason behind the decision is that the discount warehouse got a hard deal from Apple. While other stores such as Sam's Club and Target were allowed to sell the iPad from their online stores, Costco was denied that privilege by Apple.
Costco was never able to establish a proper agreement with Apple. The only things that Costco was allowed to sell at slightly discounted rates were iPod and iTunes Gift Cards.
The company is not new to breaking ties with manufacturers. Last year, the retailer stopped selling Coca Cola products after a pricing dispute. Sales were resumed a month later after the two parties finally agreed on pricing.