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Verizon Rejects Apple iPhone
Verizon has declined a deal presented by Apple stating that Apple was too strict in its terms, mostly financial, to give Verizon the chance to be the sole distributer of the iPhone. Cingular is not commenting on the terms of its pending agreement with Apple.
NEW YORK — Verizon Wireless, the No. 2 U.S. cellphone carrier, passed on the chance to be the exclusive distributor of the iPhone almost two years ago, balking at Apple's rich financial terms and other demands. Among other things, Apple wanted a percentage of the monthly cellphone fees, say over how and where iPhones could be sold and control of the relationship with iPhone customers, said Jim Gerace, a Verizon Wireless vice president. "We said no. We have nothing bad to say about the Apple iPhone. We just couldn't reach a deal that was mutually beneficial."
Posted by | Tue, Jan 30, 2007 - 09:40 AM
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