iPhone Deal May Leave Verizon on the Hook for $14B


Verizon may owe Apple between $12 billion and $14 billion for not selling as many iPhones as it promised to this year, according to two analyst reports revealed Thursday. Verizon committed to buy $23.5 billion worth of iPhones this year — a number that is more than twice what it sold in 2012 — leading to a potential shortfall of $12 billion to $14 billion, warned Craig Moffett of Moffett Research. Nomura analyst Stuart Jeffrey had a similar view.

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iPhone Deal May Leave Verizon on the Hook for $14B

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