In South Korea, the country's three incumbent carriers, SK Telecom, KT Freetel, and LG Telecom, are already the defacto winners of three licenses.

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Last November KT and SK Telecom agreed to a stock swap.

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The exact countries haven't been outlined, although it's easy to imagine Apple going for those countries where 4G speeds matter the most: there's been rumblings of talks with KT and SK Telecom in South Korea, but we could also see France, Germany, Japan and Scandinavian countries in the mix.

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Struggling to hit the promised target, SK Telecom and KT had to aggressively cut prices for the iPhone 4S shortly after launch last November.

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Among the largest underlying components of DEM, in trading today KT Corp ( NYSE: KT) is off about 2.1%, SK Telecom Co.

FORBES: Notable ETF Inflow Detected - DEM, KT, SKM, IRS

Among the largest underlying components of DEM, in trading today KT Corp ( NYSE: KT) is up about 1.1%, SK Telecom Co.

FORBES: DEM, KT, SKM, IRS: ETF Inflow Alert

Among the largest underlying components of DEM, in trading today SK Telecom Ltd ( NYSE: SKM) is off about 1.1%, KT Corporation ( NYSE: KT) is down about 0.4%, and Irsa Inversiones Y Rep SA ( NYSE: IRS) is lower by about 1.7%.

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Among the largest underlying components of DEM, in trading today SK Telecom Ltd ( NYSE: SKM) is down about 0.7%, KT Corporation ( NYSE: KT) is off about 1.2%, and BBVA Banco Frances S A ( NYSE: BFR) is lower by about 1.3%.

FORBES: Notable ETF Inflow Detected - DEM, SKM, KT, BFR