CNN's Fortune has whipped up reports of Unicom's negotiations with Apple to bring the iPhone to China, a 3 year exclusive contract to be a little bit more exact. But, another report out of China is claiming that Unicom has made no such deal, and is still in negotiations with Apple. Just like the mythical beast the Unicorn, this story is getting harder to believe. Fortune has been pointing fingers at Shanghai Security News that made claims that Unicom has in fact reached a deal.

AFP and Reuters reported what China Unicom's spokesperson told them: that the two companies were still in negotiations and no agreement had been reached (something, by the way, any company dealing with Apple will say before Cupertino has had a chance to break the news itself).

iPhoneAsia has also gone on to challenge the claim that no deal has be made, and provides details on the alleged agreement and gives a launch date of sometime in September. iPhone Asia reports:

- The Apple and China Unicom deal will be a 3-year exclusive.*
- The iPhone will be customized for the China market (e.g. Chinese language and preloaded with "for China" apps).
- China Unicom will pay Apple 3,000 CNY ($439 USD) per unit.
- China Unicom will subsidize iPhone by pricing the iPhone below the 3,000 CNY paid to Apple. This would take the official iPhone price below the grey-market price for smuggled iPhones.
- China Unicom has promised to sell a minimum 1 million units per year with significantly higher sales targets.
- The iPhone for China will make use of Apple's China App Store.

*There is no mention of the terms of exclusivity, such as whether this will be for all iPhones or just 3G models. (leaving the door open for an unlocked 2G model in 2010/11 for all carriers).

At this rate, until an official release from Unicom is announced, the possibility of China getting the iPhone is as real to us as our neighbor claiming to have seen BigFoot, which we all know exists. We just haven't seen him in person because he's shy.

Via MacRumors