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Steve Jobs & China Mobile Discussing iPhone 5 Introduction

The world’s leading mobile network operator, China Mobile has had "several meetings" with Apple CEO Steve Jobs about launching the iPhone on China’s home-grown network.

According to Reuters, China Mobile, while reporting its half yearly earnings in a conference call, revealed that the company executives are in touch with Apple Inc, and have met with its chief executive officer Steve Jobs on various occasions to discuss about launching their iPhone handsets on China’s TDSCDMA network standard.

“I met Steve Jobs several times already, but we haven’t come to an agreement yet,” chairman of China Mobile, Wang Jianzhou said.

Jianzhou added that the company is hoping to launch Apple’s iPhones on China’s network standard as soon as possible. He went on to say that the company hopes to offer its 616.8 million subscribers, out of which 6.33 million already own an iPhone, connectivity via 3G.

“Even if China Mobile strikes an agreement with Apple to sell iPhones, that may not translate to more profitability in the near term because it will create more intense competition. The telcos will try and undercut each other by offering more subsidies," stated chief of BMI Funds Management, Patrick Shum.

China Mobile Ltd. has recorded a 6.3 percent increase in its half yearly net profit ending June to reach 61.3 billion yuan or $9.6 billion.