China's biggest wireless phone operator, China Mobile says it is still in negotiations with Apple to bring the iPhone to China, denying reports that talks had failed, according to Bloomberg.

China's Southern Daily newspaper reported Wednesday that talks had failed over differences in revenue sharing, according to Marketwatch. It added that Apple now planned to open stores in Beijijng to sell iPhones directly and was in talks with distributors.

Shares of Apple Inc, rose the most in more than a year on November 13, when news of the talks were first announced.