Spanish company Telefonica announced today it will sell the iPhone in 16 countries. Telefonica’s agreement with Apply will allow the service provider to distribute the popular handset in most of Latin America and the Czech Republic.

“The 16 countries where we will distribute the iPhone have a market potential of 500 million people, making us one of the global leaders in the distribution of these revolutionary handsets,” Telefonica Chairman Cesar Alierta said in a statement.

Telefonica currently sells the iPhone in the United Kingdom and Ireland through its O2 subsidiary. Telefonica will start selling the handset in Spain starting on July 11.

The new Telefonica markets include the Czech Republic, Argentina, Brazil, Colombia, Chile, Ecuador, El Salvador, Guatemala, Nicaragua, Panama, Peru, Uruguay and Venezuela.

Telefonica has exclusive iPhone distribution rights in Spain, the UK and Ireland but not in Latin America and the Czech Republic.