A deal between the two companies has been rumored since before the iPhone 5s was even announced, and the rumors haven't stopped since then. Yesterday, it seemed obvious that a deal was imminent, because some towns in China began offering preorders for Apple's new devices. The deal hasn't been officially announced by either company, but The Wall Street Journal is reporting that the deal is done.
This deal gives Apple access to China Mobile's customer base which is somewhere over 700 million subscribers, and some reports say that the number is closing in on 800 million. WSJ is reporting that rumors we heard earlier are true, and China Mobile will be combining the iPhone announcement with the announcement of its new 4G services, which is supposed to be happening on December 18th.