Apple is looking to drill for revenue in Iran by selling its products in the country, where it’s yet to have an official presence.
According to The Wall Street Journal, Apple has met with Iranian distributors about the official sale of Apple products in Iran provided some Western economic sanctions are lifted. Citing “people familiar with the matter,” the publication reports:
The Cupertino, Calif., company explored having Iranian partners sell Apple products at so-called premium resellers, some of the people said. Instead of company-operated Apple stores, such outlets would be midsize franchisees that sell Apple products only, a model the company has used in Europe and Asia, the people said.
In particular, the iPhone would be one of the first Apple products to be sold in Iran, given that consumer communications devices had been allowed to be exported from the U.S. to the Middle Eastern country since last year.
With its relatively young and middle class population of 77 million, Iran is a potentially profitable market for Apple. However, Apple’s official entry into the country is not without its challengers, including the local gray and black markets and the already strong local presence of the likes of LG and Samsung.
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