iPhone Coming to Canada

Good news for Canadians - Rogers Communications Inc (NYSE: RCI), the owner of Canada's biggest wireless firm, said on Tuesday its first-quarter profit more than doubled and that it secured a key deal with Apple Inc to bring the iPhone to Canada later this year.

Rogers had been widely expected to be the Canadian carrier to offer the iPhone, given that Rogers is Canada's largest carrier, and only GSM provider.

"By far the most important news for the stock today is that Rogers has signed a deal to launch the Apple iPhone later this year," National Bank Financial analyst Greg MacDonald wrote in a note to clients. He added: "It is safe to assume the launch will be before the important holiday season and possibly before the back to school third-quarter period."

No specifics on pricing at this time.