Verizon Wireless may end up owing Apple Inc. as much as $14 billion in purchase commitments over time if the mobile carrier fails to sell an agreed number of iPhones, a report from Moffett Research LLC said.
Sprint Nextel Corp., whose investors backed a takeover by SoftBank Corp. yesterday after an eight- month fight, is now preparing to use the firepower of its soon- to-be parent company to target Verizon Wireless and AT&T Inc.
Verizon Wireless, the largest U.S. mobile-phone carrier, won’t sell handsets with Microsoft Corp. ’s Windows Phone 7 operating system when it debuts this year, a blow to the software maker’s efforts to reach a broad market.
European stocks advanced for a fifth day, their longest rally this year, as data showed the U.K. avoided a triple-dip recession and as companies including British American Tobacco Plc reported results.
Nokia Oyj, the Finnish mobile-phone maker trying to win back users from Apple Inc. and Samsung Electronics Co., struck a deal to get Verizon Wireless to sell its new smartphone, said two people familiar with the plan.
Apple Inc.’s iPhone 4S barreled toward unit sales of up to 4 million this weekend, as the company’s carrier partner AT&T Inc. reported a record number of customers activating the device on its network.