Apple and China Mobile have called off talks to launch the U.S. firm's popular iPhones in China, dashing speculation the device will hit the country's store shelves soon. The iPhone sells for about $500 in the United States -- about double the average monthly salary in China.

"Our parent has terminated talks with Apple over the iPhone," a spokeswoman for listed China Mobile said according to Reuters, confirming several unsourced Internet reports.

Experts said last year that the iPhone would have to navigate a spate of technical, content and fee issues unique to China, including a standard revenue-sharing agreement that China Mobile would be sure to dislike, before any launch could proceed.