According to the Russian Communications and IT Ministry, the country's wireless market is set to reach $10.8 billion by the end of this year. The Russian market experienced remarkable growth to top $8 billion by the end of 2004, marking a 59 percent increase from the year before. The ministry attributed the revenue growth to cellular, which accounted for 99 percent of the revenue. Russia is one of the BRIC countries (Brazil, Russia, India, China), the four fastest growing wireless markets in the world.
For more on Russia's rapid growth:
- check out this article from Interfax