iPhone sales shortfall leaves Verizon with $14bn bill to Apple

iOS 7 will be available on the iPhone 5
US telco Verizon could be facing a $14bn bill from Apple following lower than expected sales of the iPhone.
According to a report released by analyst firm Moffett Research, slow sales of the handset could leave Verizon paying out of its own pocket to cover a revenue guarantee to Apple.
Citing US Securities and Exchange Commission (SEC) filings from the company, analysts believe that Verizon will soon have to pay Apple a figure that could amount to billions of dollars to cover the commitment Verizon made when it struck a deal with Apple to bring the iPhone to its network. The news was first reported by The Los Angeles Times.
Verizon was among the first telcos to strike a carrier deal with Apple in the US after the company's exclusivity deal with AT&T ended in 2011. The deal is now said to include a revenue guarantee that will soon be due, leaving Apple with the choice of extracting a potentially devastating charge from one of its partners or forgoing billions in additional revenues and risk losing similar revenue commitments from other carriers.
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About Doru Somcutean

Hello, my name is Somcutean Doru and I'm from Romania.

I really like to read reviews and see what's new about technology, on D-BLOG I share with you articles/reviews that I find interesting. I also write some reviews in romanian...

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