Apple, Verizon Took Years To Reach Accord On iPhone Release

01/12/2011 05:05 pm ET | Updated May 25, 2011
  • BusinessWeek

Verizon Communications Inc. President Lowell McAdam works a few miles from the New York auditorium where he announced yesterday's deal to offer Apple Inc.'s iPhone. It took him four years to get there.

The press conference at Lincoln Center marked the end of haggling over branding and revenue sharing between the two companies, as well as efforts to ensure reliability. McAdam and Apple Chief Operating Officer Tim Cook came to terms last year, setting the stage for Verizon to offer the iPhone on Feb. 10.

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