China Unicom (Hong Kong) Ltd. (CHU) said Monday it will begin offering the iPhone in China in October at a retail price of around CNY5,000 ($732).

The company will offer a choice of eight different service packages with the phone, ranging from CNY126 to CNY886 per month.

The rollout of the iPhone coincides with the official launch of China Unicom's third-generation wireless network on Oct. 1.

China Unicom, the country's second-largest wireless operator by users, hopes the iconic phone will give it an edge over larger rival China Mobile Ltd. (CHL).

-By Aaron Back, Dow Jones Newswires; (8610) 6588-5848; aaron.back@dowjones.com