Why China’s insatiable appetite for iPhones could hurt carriers in America

Apple's influence on China is so powerful that it could soon skew the market there for used cell phones -- with a ripple effect for the rest of the cellular industry. There are now so many iPhones being sold in China, Verizon chief financial officer Fran Shammo said, that it may wind up affecting the prices that resellers are able to get for their second-hand phones. "There is a lot of Apple product hitting in the Chinese market now, where China was one of the larger areas where we sold off used handsets," Shammo said. "So, as these markets get heavily penetrated with newer product, that could impact the residual value of these phones going forward."