Bloomberg is reporting that Apple might serve as its own wireless carrier for the rumored iPhone and sell service contracts in the Apple stores.

They would need to buy cell services wholesale from Cingular or another carrier and then retail them to Apple iPhone buyers. This would make Apple a mobile virtual network operator.  The MVNO strategy is not unusual for big brands that think they have sufficient brand equity to build a cell phone customer network.  Disney and ESPN both operate their own MVNO cell phone networks, so it would not be unusual to offer cell services.

The questionable thing  would be the limitation that it might place on potential iPhone sales unless such a phone can be used on Apple’s and other carriers’ networks.  It will be fun to see it all happen.