Impact: The rumor mill keeps on talking about Verizon as Apple’s next big iPhone play. We, on the other hand, see China Telecom as a key partner to watch. True, Verizon has more CDMA subscribers at close to 100 million than China Telecom’s 75 million. Yet the latter has been adding 3 million subscribers per month since last December, and that kind of growth is compelling. What’s more, Apple risks losing China to Google’s Android OS if it waits much longer to enter the country. Therefore, we see the time as ripe for Apple to make its move into China if it ever intends to.