China Unicom buys $1.5 Billion worth of iPhones

Looks like Apple just punched up another $1.46 Billion in revenue.  The International Business Times is reporting that Apple has come to an agreement with China Unicom to sell 5,000,000 iPhones in China. 

According to the source, the deal would put the Chinese version of the iPhone at an average $293 price point and would not include subsidies to Apple which are common in other countries.  They speculate that Apple is still getting over $100/ea in profit from this sale.

"The price of the 8G standard iPhone is set at about 2,400 yuan and the 16G may be sold at 4,800 yuan," said Yu Zaonan, general manager of the customer development department of China Unicom in Guangzhou.

The first batch of iPhones will appear in China Unicom 3G stalls at Carrefour and some large retail outlets run by China Unicom in September, said Zhou Youmeng, vice general manager of China Unicom.