The United States and Iran finally signed an official nuke agreement today after 20 months of negotiations, and according to a new report, Apple is already looking to move in.
Apple has been in touch with potential Iranian distributors, reports the Wall Street Journal, citing “people familiar with the matter.” General Electric has also been looking to break into Iran, the site claims.
The Middle East is one of the few corners of the world Apple products have yet to penetrate, but improved relations between Iran and the U.S. could quickly change that. Government data shows Iran’s 80 million residents already have an affinity for Western brands. Only 11 million Iranians have mobile Internet access, but broadband penetration is at 53 percent across the population.
Some U.S. companies have already started doing business in Iran. Boeing started selling aircraft manuals and charts to the country last year, and Coca-Cola has been selling its sodas for nearly two decades in Iran, under a license from the Office of Foreign Assets Control.
It’s still unclear when the doors of Iran will be opened to Apple and others. American and European business can only move in after Iran implements the deal, which might mean sanctions won’t be lifted until early next year. There’s also a “snapback” provision in case Iran doesn’t live up to its part of the deal, but once sanctions are finally lifted Iran could become a huge new market.
