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.
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.
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.
Verizon Wireless, which started offering the Apple Inc. iPhone to its customers yesterday, stopped orders for the device after selling through its initial inventory, spokeswoman Brenda Raney said in an interview.