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Quoting unnamed industry insiders, Reuters reports that the iPhone is unlikely to hit Chinese shelves soon because of technical and fee issues.

"You have to realize Chinese SIM cards are not locked up, as the iPhones' are," an executive said on condition of anonymity. "Secondly, our business model does not entail sharing revenue with terminal producers—we don't share revenue. That's a Chinese rule.

"All it is right now, on the iPhone and Apple, is that the firm welcomes their approach," he continued.

Shares in Apple rose more than 10 percent on Tuesday—snapping a four-day losing streak—after China Mobile CEO Wang Jiangzhou said his firm was in talks about a possible tie-up. China Mobile stock also jumped 9 percent on Wednesday.

Editor's note: That's beautiful... Perhaps the last communist nation on earth has unlocked phones.

I imagine somebody made a rather pile of money from this "gaff"...

What's your take?

Refurbished iPhone, 8GB: only $349!