Updated 07:58 AM EDT, Fri, Jul 10, 2020

Apple Inc. (AAPL) iPad Deal in Turkey: $4 Billion Likely With Turkey's 'FAITH Project' as First Istanbul Apple Store Set to Open in 2014

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Apple Inc. may be near signing an iPad deal worth $4 billion, and it may involve the Cupertino-based company establishing itself in Turkey.

Apple CEO Tim Cook and other executives are reportedly set to travel to Turkey in February for a potential education deal with the iPad.

Turkish report stated Cook will be meet President Abdullah Gul regarding the "FAITH Project," which aims to replace the standard blackboards and textbooks with up-to-date computer devices.

The project, in its initial phase, called for the acquisition of 10.6 million tablets. The tablet quantity could include 2 to 2.5 million additional iPads. The initial "FAITH Project" phase is scheduled to last four years and could cost between $3 and $4 billion.

After meeting with the Turkish president, Cook will reportedly visit the first Apple Store in Istanbul at the Zorlu Center, which is scheduled to open in early 2014.

As Apple Insider noted, the Istanbul Apple Store is expected to feature an all-glass cube-like structure similar to the Fifth Avenue Apple Store in Manhattan, N.Y.

The potential deal with Turkey comes after Apple secured an agreement with the world's largest mobile carrier, China Mobile. The Chinese mobile carrier, with more than 760 million subscribers, started to sell Apple iPhones on Christmas Day while pre-orders for the iPhone 5c and iPhone 5s are scheduled to start on Jan. 17, 2014.

"iPhone customers in China are an enthusiastic and rapidly growing group, and we can't think of a better way to welcome in the Chinese New Year than getting an iPhone into the hands of every China Mobile customer who wants one," said Cook in a statement.

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For the latest updates, follow Michael Oleaga on Twitter: @EditorMikeO

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