Talks between Apple and China Mobile over Apple's iPhone have had their ups and downs over the last year or so but it seems that the impasse may have finally been resolved. Marbridge Daily, one of the more reliable sources on China’s TMT space, is reporting from an unnamed source in the Ministry of Industry and Information Technology (MIIT) that China Mobile and Apple have finally reached a deal.

According to the unnamed source, instead of Apple’s standard revenue sharing agreements with most carriers, China Mobile will purchase iPhones at full price and then offer them to consumers at a subsidized price.

Maybe all the recent talk of China Mobile facing more serious competition in the 3G arena has finally motivated China Mobile to work out a deal with Apple as one more defense against possible loss of customers. Even more likely though, competitive pressure on Apple finally made it willing to accept a deal that did not include revenue sharing.