Apple (AAPL) Expands iPhone Presence in Russia with New Direct-Sales Agreement
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Apple (Nasdaq: AAPL) is expanding its presence in Russia bit-by-bit, according to the latest news out today.
Reuters said Apple and Megafon -- Russia's second largest mobile operator behind Vimpelcom (NYSE: VIP) -- have entered a three-year direct-sales deal for the iPhone. Megafon stopped selling the handsets in 2009 due to it not being able to meet sales goals required by Apple.
Vimpelcom entered its own iPhone direct sales deal last October, while MTS still purchases its handsets from distributors.
In terms of money, Apple's stake in Russia's $6.5 billion smartphone market is about 20 percent. For volume, that share drops to 9 percent.
Megafon last reported having over 62 million subs in Russia.
Apple is up 1.3 percent heading into the company's Q1 report, which is expected out after markets close Monday.
Reuters said Apple and Megafon -- Russia's second largest mobile operator behind Vimpelcom (NYSE: VIP) -- have entered a three-year direct-sales deal for the iPhone. Megafon stopped selling the handsets in 2009 due to it not being able to meet sales goals required by Apple.
Vimpelcom entered its own iPhone direct sales deal last October, while MTS still purchases its handsets from distributors.
In terms of money, Apple's stake in Russia's $6.5 billion smartphone market is about 20 percent. For volume, that share drops to 9 percent.
Megafon last reported having over 62 million subs in Russia.
Apple is up 1.3 percent heading into the company's Q1 report, which is expected out after markets close Monday.
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