With sanctions against Iran expected to be lifted, a number of U.S. tech companies have already begun exploring the possibility of a market entry in the country. Those companies include the likes of Apple and HP.
Other than food, aircraft parts and medicine companies, U.S. companies are still unable to do business in Iran, however, it was recently announced by Maryland Sen. Ben Cardin, the top Democrat on the Senate Foreign Relations Committee, that sanction relief could begin as early as January.
Many American companies are prepared to enter the company as soon as the sanctions lift, with fears that they will be beaten by their European and Asian counterparts to a country with over 77 million people. The market there is particularly enticing for tech companies because the market for computers and handsets is set to go up to $13 billion within the next four years, up from $9.5 billion in 2014, according to BMI Research.
Because the U.S. is the one with sanctions against Iran, American companies have begun sending non-American subsidiaries to test the market. For example, HP Sarl, the Swiss subsidiary of HP, recently drafted agreements with Iranian distributors to sell its consumer products. To keep confidentiality as tight as possible, HP only exchanged papers in hard copy and requested that partners return documents by mail.
Lenovo, which is the largest computer maker when it comes to volume, is also exploring the possibility of entering Iran, and has invited dozens of Iranian retailers to an event in Tehran to try and increase interest in its latest laptops.
Apple has also begun talks with Iranian distributors, with a goal of selling its full range of products in the country and even opening Apple stores.
