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What are your views on China Unicom’s iPhone deal?

As we now know, Apple and China Unicom have struck the big deal to deliver the iconic iPhone to China, and China Unicom rolls out their 3G network next month and is apparently banking on attracting high spending customers with the iPhone reports marketwatch.

Research analyst for Victor Yip, Kay Hain has said…”The iPhone could help bring up the average revenue per user, but I don’t think the magnitude will be big.”

According to the Royal bank of Scotland, 4 to 5 million iPhone handsets are being distributed in preparation for the iPhone intro to China. Approximately 1.5 million iPhone’s are already available in China mainly purchased abroad.

China Unicom has made the deal with Apple for a 3 year term which will begin in Q4 and will offer the iPhone at a subsidised rate but hasn’t said what that rate will be, and will not share revenue with Apple.

What are your views on China Unicom’s iPhone deal?