Well this is some bad news for Apple shareholders
Leap Wireless, which runs a prepaid cellphone brand called Cricket, just warned its own shareholders that, after making a very large bet on iPhones, it's having a very hard time selling them.
Leap says it could end up with $100 million worth of unsold iPhones.
BTIG Research's Walter Piecyk dug up Leap's filing.
Some of the blame here falls on Apple, which hasn't tried very hard to make a super cheap iPhone.
A lot of it falls on Leap, which can't sell its iPhone in every market due to technological constraints.
More from our partner, Business Insider:
Business Insider: This Guy Earned 4 Million Airline Miles By Buying Dollar Coins
Business Insider: We're Getting Closer Than Ever To Paying With Our Fingerprints
Business Insider: The 10 Cheapest Cities In The US
Business Insider: Surgeons Think They Should Be Trained On The Nintendo Wii
Business Insider: The 10 Happiest States In America
Every day, reporters and producers at The World are hard at work bringing you human-centered news from across the globe. But we can’t do it without you. We need your support to ensure we can continue this work for another year.
Make a gift today, and you’ll help us unlock a matching gift of $67,000!