Russian IT sector tipped for strong growth in 2005

9 Aug 2005

A preliminary report from Russia’s IT and Communications Ministry says that the country’s telecoms sector will grow by almost 33% in 2005. According to the Ministry’s forecasts, revenues from core activities will grow by 27.7% in 2005 to RUB690 billion (USD24 billion) while traditional operator sales will climb 22.5% year-on-year to RUB278.2 billion. Revenue from telephony services will account for around 70% of all turnover for the industry by the end of the year, and sales related to mobile services will account for 45% of the total. By the start of 2006 the IT and Communications Ministry predicts that Russia will be home to more than 100 million wireless subscribers, up from 89.2 million in April.