Russia's IT and Telecommunications Ministry announced that mobile phone subscribers shot up 27.8% between the beginning of 2004 to June 1, 2004, to reach 46 million. The penetration rate hit 32% during the period.

 

Mobile phone and fixed-line subscribers stood equal at 36 million each at the beginning of 2004. However, the ministry said GSM operators were a major contributor this surge in subscriber growth.

 

In 2003, Russian companies invested 95 billion rubles (US$3.3 billion) in the mobile phone segment.