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Thursday, December 09, 2010, 12:00 pm PT (03:00 pm ET)

Costco enters 'mutual agreement' to stop selling Apple products

Discount wholesaler Costco will no longer sell any of Apple's products, as the two companies have reportedly come to a "mutual agreement" to cease their partnership.

According to The Seattle Times, Costco will phase out Apple products from its inventory. Richard Galanti, chief financial officer for Costco, reportedly said that Apple never allowed the retailer to sell its products online, while other stores have had that privilege.

"In the past couple months, we agreed to wind down," he said.

In October, it was rumored that Costco was looking to stop selling Apple's iPod because Apple has not allowed it to sell the iPad. Costco was left out earlier this year when rival Sam's Club announced it would carry both the iPad and the iPhone.

While Apple apparently passed over Costco, a number of other retail partners are offering the iPad this holiday, as Apple looks to maximize the retail presence of its touchscreen tablet. Among those selling the iPad are Target, Best Buy, Walmart, and carriers AT&T and Verizon.

In addition to iPods, Costco also sold iTunes gift cards, which could be used to buy content and applications from the iTunes Store. However, the iPods and gift cards were never sold with large discounts from the wholesaler.