TEHRAN (Fars News Agency) -- Iran's first homemade cell phones will hit the market in June, said a senior Iranian telecommunications official Wednesday.

The new cell phones will be sold under the brand name ITMC.

The Chief of Iran Telecommunications Manufacturing Company Mohammad Mottale' told Fars news agency that Iran will manufacture its cell phones in cooperation with South Korean firms.

"We have finalized an agreement with the Korean side to manufacture cell phones in Iran," he said.

Mottale' did not specify any financial details of the deal nor did he name the Korean companies involved in the project.

All of the required technical equipment for the project has been purchased and some 300,000 cell phones will be manufactured in the first six months of production, he said.

Mottale' said he expects mobile phone production in Iran to reach two million units a year within the next two years.

The government raised tariffs on cell phone imports last year from four percent to 60 percent in a bid to discourage imports.

The decision led to a hike in mobile phone prices in Iran, which is believed to be one of the largest cell phone markets in the region.