Apple and China Mobile have ended talks aimed at launching the iPhone in China.

The move reportedly "dashes" any speculation that the Apple mobile will be launched in the country in the near future, Reuters explains.

The immediate impact of the news was to see shares in China Mobile fall 3 per cent. The move may reflect the relatively high price of the iPhone, which at $500 costs approximately twice the average Chinese wage.

China Unicom , the smaller of the country's only two wireless carriers, said in 2007 it had no plans to bring the device into the country but was open to the idea.