China’s second largest carrier China Unicom has announced today that it has struck a multi-year agreement with Apple to bring the iPhone 3G S to China.

China Unicom currently has about 140 million subscribers, with about 690 million mobile phone users in all of China.

Not much was disclosed today, except the fact that the iPhone will become available sometime in the forth quarter of 2009. Neither revenue sharing nor pricing details were disclosed.

Reports indicate as part of the deal, China Unicom would

purchase up to 5 million iPhone handsets initially for a reported cost of close to USD $1.5 billion.

It is believed China Unicom would sell the iPhone for about USD $450 each with prepaid requirements.

Reports also indicate that China Unicom will offer two different iPhone handsets, one initially without WiFi capability in order to adhere to Beijing regulations, and later a handset with WiFi.

The contract marks a very significant win for Apple co-founder and CEO Steve Jobs.

Since the end of June 2009, Apple had sold 26.4 million iPhone handsets worldwide in more than 80 nations.