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.