Analysts report Verizon could owe Apple up to $14 billion for iPhones
The Japanese mobile company NTT DoCoMo has held off from selling the iPhone reportedly due to the contract that Apple requires sellers to sign. Now thanks to a report from Bloomberg and analysis from Moffett Research LLC regarding Verizon's obligations to the Apple, their move might make a little more sense.
According to a new report from Moffett Research LLC's Craig Moffett, a multi-year deal Verizon made with Apple in 2010 requires them to buy US$23.5 billion in iPhones. Not over the whole span of the deal, but just in 2013. That's over twice the amount Verizon sold in 2012, leading Moffett to report the company may end up having to pay Apple for the shortfall if they can't meet those numbers. Based on his analysis, that shortfall may be between $12 billion and $14 billion.
Neither Verizon or Apple has responded to Bloomberg's report, which is to be expected. Head over to Bloomberg to check out the rest of their coverage, including analysis of Sprint's commitments to Apple.
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